Rapid7 (NASDAQ:RPD) Coverage Initiated at Stephens

Equities research analysts at Stephens assumed coverage on shares of Rapid7 (NASDAQ:RPD) in a research note issued to investors on Tuesday. The brokerage set an “equal weight” rating and a $33.00 price target on the technology company’s stock. Stephens’ target price would suggest a potential upside of 25.74% from the stock’s previous close.

Several other research firms also recently weighed in on RPD. UBS Group cut their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird cut their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. DA Davidson decreased their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Raymond James reduced their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Barclays reduced their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Sixteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Rapid7 presently has an average rating of “Hold” and a consensus price target of $39.05.

Rapid7 Trading Down 1.0 %

Rapid7 stock traded down $0.27 on Tuesday, hitting $26.25. 29,501 shares of the stock traded hands, compared to its average volume of 845,166. Rapid7 has a 1 year low of $25.98 and a 1 year high of $50.55. The firm has a market cap of $1.68 billion, a P/E ratio of 67.29 and a beta of 0.92. The business’s fifty day simple moving average is $32.85 and its 200 day simple moving average is $37.33.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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, analysts predict that Rapid7 will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Rapid7 by 100.8% during the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after buying an additional 37,708 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 during the 4th quarter worth about $12,050,000. Stifel Financial Corp acquired a new stake in shares of Rapid7 during the 3rd quarter valued at about $1,006,000. Harbor Capital Advisors Inc. increased its stake in shares of Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Rapid7 by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 6,645 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.