Rapid7 (NASDAQ:RPD) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Rapid7 (NASDAQ:RPD - Free Report) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Citigroup cut their price target on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Raymond James cut their target price on Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Scotiabank dropped their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.05.

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Rapid7 Stock Performance

NASDAQ RPD traded down $1.86 during trading on Monday, reaching $25.58. 744,256 shares of the company's stock were exchanged, compared to its average volume of 852,675. Rapid7 has a 1 year low of $25.53 and a 1 year high of $50.55. The stock has a market cap of $1.64 billion, a P/E ratio of 65.59 and a beta of 0.99. The company has a 50 day moving average price of $32.09 and a two-hundred day moving average price of $37.13.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share 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%. Research analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 owns 431,469 shares of the company's stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Rapid7 by 5,311.1% in 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 during the period. Skandinaviska Enskilda Banken AB publ boosted its position 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 last quarter. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares during the period. Ostrum Asset Management grew its holdings in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after purchasing an additional 772 shares during the period. Finally, KBC Group NV raised its stake in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock worth $108,000 after purchasing an additional 867 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.