Rapid7 (NASDAQ:RPD) Coverage Initiated at Morgan Stanley

Morgan Stanley assumed coverage on shares of Rapid7 (NASDAQ:RPD - Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm issued an equal weight rating and a $33.00 price target on the technology company's stock.

Other analysts also recently issued research reports about the stock. Barclays decreased their price objective on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Robert W. Baird decreased their price target on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Raymond James decreased their price target on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Rapid7 has a consensus rating of "Hold" and an average price target of $40.50.

Rapid7 Stock Performance

NASDAQ RPD traded down $0.06 during trading on Tuesday, hitting $28.29. The stock had a trading volume of 2,233,037 shares, compared to its average volume of 830,510. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 72.54 and a beta of 0.92. Rapid7 has a one year low of $26.77 and a one year high of $50.55. The stock has a 50 day simple moving average of $34.13 and a 200 day simple moving average of $37.57.

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Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, sell-side analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Rapid7 during the third quarter valued at $69,000. Ostrum Asset Management grew its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after buying an additional 772 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after buying an additional 867 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.