Rapid7 (NASDAQ:RPD) Stock Price Up 6.4%

Rapid7, Inc. (NASDAQ:RPD) rose 6.4% during trading on Monday . The stock traded as high as $40.08 and last traded at $39.74. Approximately 261,553 shares traded hands during trading, a decline of 70% from the average daily volume of 865,327 shares. The stock had previously closed at $37.36.

Analysts Set New Price Targets

RPD has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. KeyCorp upgraded Rapid7 to a “hold” rating in a research note on Monday, June 17th. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. UBS Group cut their price objective on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.13.

Rapid7 Stock Up 0.6 %

The business has a 50 day simple moving average of $36.58 and a two-hundred day simple moving average of $40.28. The firm has a market cap of $2.46 billion, a PE ratio of -19.13 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. Equities analysts forecast that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Rapid7 by 97.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 92,700 shares of the technology company’s stock valued at $4,007,000 after purchasing an additional 45,700 shares in the last quarter. Algert Global LLC boosted its holdings in Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after acquiring an additional 74,793 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Rapid7 in the second quarter worth about $6,106,000. The Manufacturers Life Insurance Company boosted its holdings in Rapid7 by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 36,410 shares of the technology company’s stock worth $1,574,000 after acquiring an additional 2,402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Rapid7 by 275.4% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,408 shares of the technology company’s stock worth $580,000 after acquiring an additional 9,836 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

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.