Stephens Initiates Coverage on Rapid7 (NASDAQ:RPD)

Stephens assumed coverage on shares of Rapid7 (NASDAQ:RPD) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $33.00 price target on the technology company’s stock.

RPD has been the subject of several other reports. Morgan Stanley initiated coverage on Rapid7 in a research report on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 price target for the company. Scotiabank reduced their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Truist Financial lowered their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Robert W. Baird reduced their price objective 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. Finally, UBS Group lowered their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Sixteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.05.

Rapid7 Stock Up 1.0 %

NASDAQ RPD opened at $26.78 on Tuesday. The company has a market cap of $1.71 billion, a PE ratio of 68.67 and a beta of 0.92. Rapid7 has a 52 week low of $25.98 and a 52 week high of $50.55. The firm’s 50-day simple moving average is $32.60 and its two-hundred day simple moving average is $37.27.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results 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%. As a group, equities research analysts anticipate that Rapid7 will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. raised its holdings in Rapid7 by 30.4% during the 4th 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. Ostrum Asset Management boosted its position in Rapid7 by 45.3% during the 4th 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 period. KBC Group NV grew its holdings in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the last quarter. Finally, One68 Global Capital LLC purchased a new position in shares of Rapid7 in the fourth quarter valued at about $201,000. 95.66% of the stock is currently owned by institutional investors.

About Rapid7

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.