Stephens assumed coverage on shares of Rapid7 (NASDAQ:RPD - Free Report) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $33.00 target price on the technology company's stock.
Several other analysts also recently weighed in on RPD. Raymond James lowered their target price on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Robert W. Baird dropped their price objective on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their target price on shares of Rapid7 from $42.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.05.
Read Our Latest Stock Report on RPD
Rapid7 Price Performance
Shares of RPD traded down $1.86 during mid-day trading on Tuesday, reaching $25.58. 744,256 shares of the company's stock were exchanged, compared to its average volume of 850,646. The business's fifty day simple moving average is $32.09 and its 200-day simple moving average is $37.13. The stock has a market capitalization of $1.64 billion, a PE ratio of 65.59 and a beta of 0.99. Rapid7 has a 52-week low of $25.53 and a 52-week high of $50.55.
Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Equities research analysts predict that Rapid7 will post 0.35 earnings per share for the current year.
Insider Activity at Rapid7
In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was 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 $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Rapid7
Several hedge funds and other institutional investors have recently bought and sold shares of RPD. Charles Schwab Investment Management Inc. lifted its position in shares of Rapid7 by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company's stock worth $20,387,000 after purchasing an additional 9,190 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rapid7 by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company's stock valued at $1,280,000 after acquiring an additional 965 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Rapid7 during the third quarter worth about $1,341,000. Concentric Capital Strategies LP lifted its stake in shares of Rapid7 by 59.9% in the third quarter. Concentric Capital Strategies LP now owns 43,457 shares of the technology company's stock worth $1,734,000 after acquiring an additional 16,277 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Rapid7 in the third quarter valued at about $566,000. 95.66% of the stock is owned by institutional investors and hedge funds.
About Rapid7
(
Get Free Report)
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.
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