Rapid7 (NASDAQ:RPD) Earns Equal Weight Rating from Analysts at Stephens

Stephens started coverage on shares of Rapid7 (NASDAQ:RPD - Free Report) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $33.00 price objective on the technology company's stock.

Several other equities research analysts also recently commented on RPD. Jefferies Financial Group reduced their target price on Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a report on Monday, March 31st. Citigroup lowered their target price on Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price target on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. UBS Group lowered their price target on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Robert W. Baird cut their price objective on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.05.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $1.90 during trading hours on Tuesday, hitting $23.68. The stock had a trading volume of 1,292,159 shares, compared to its average volume of 855,960. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 60.72 and a beta of 0.99. Rapid7 has a 1-year low of $23.33 and a 1-year high of $50.55. The stock's fifty day simple moving average is $31.79 and its 200 day simple moving average is $37.05.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted 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 net margin of 3.46% and a negative return on equity of 130.41%. As a group, research analysts anticipate that Rapid7 will post 0.35 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares in the company, 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 this link. Company insiders own 2.60% of the company's stock.

Institutional Trading of Rapid7

Hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of 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 acquiring an additional 455 shares during the period. Versant Capital Management Inc grew its holdings in Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock valued at $39,000 after buying an additional 1,434 shares in the last quarter. Pacer Advisors Inc. increased its position 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 period. Ostrum Asset Management lifted its holdings in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after buying an additional 772 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after acquiring an additional 867 shares during the period. 95.66% of the stock is currently owned by 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.