Rapid7 (NASDAQ:RPD) Shares Up 8.5% – Still a Buy?

Rapid7, Inc. (NASDAQ:RPD) rose 8.5% on Monday . The stock traded as high as $29.58 and last traded at $30.69. Approximately 118,178 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 828,136 shares. The stock had previously closed at $28.29.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RPD shares. DA Davidson lowered their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird reduced their target price 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. Jefferies Financial Group decreased their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial dropped their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $39.94.

Rapid7 Stock Performance

The firm has a market cap of $1.89 billion, a P/E ratio of 75.59 and a beta of 0.92. The firm has a fifty day moving average of $33.76 and a 200-day moving average of $37.49.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results 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%. Equities research analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake 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 purchasing an additional 347 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after buying an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in 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 buying an additional 455 shares in the last quarter. Ostrum Asset Management grew its holdings in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the period. Finally, KBC Group NV raised its position in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.