Data security and analytics company Rapid7 (RPD) will acquire Logentries, a provider of machine data search technology, for $68 million. But investors weren’t thrilled. Logentries has a cloud-based platform that can search and analyze computer generated data to help users identify anomalous events on their networks. Rapid7 in a press release said the acquisition will enable information security teams to solve a full range of security challenges,
Cybersecurity firm Rapid7 (RPD) turned in better-than-expected earnings after the close Tuesday, its first financial report since its initial public offering last month. The company reported Q2 revenue of $25.8 million, up 44% from the year-earlier quarter and beating the consensus estimate of $23.6 million, as polled by Thomson Reuters. It lost 61 cents per share minus items, but consensus called for an 84-cent loss. Rapid7 stock, which rose 6.3%
Pacific Crest Securities initiated coverage with a positive outlook on data security and analytics firm Rapid7 (RPD). Pacific Crest analyst Rob Owens gave Rapid7 an overweight rating with a price target of 28. Rapid7 raised $103 million last month with an initial public offering priced at 16, above its expected range. The stock popped 58% on its first day of trading July 17, closing at 25.28. In afternoon trading, Rapid7 stock was down 3.5%, near