Rapid7 (NASDAQ:RPD) Trading Up 8.5% – Time to Buy?

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial cut their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Citigroup decreased their price target on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays cut their price objective on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Morgan Stanley started coverage on shares of Rapid7 in a report on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 target price for the company. Finally, StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average target price of $39.94.

Rapid7 Trading Down 0.7 %

The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 75.59 and a beta of 0.92. The company has a fifty day moving average price of $33.76 and a 200-day moving average price of $37.49.

Rapid7 (NASDAQ:RPD) last posted its 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, sell-side analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Rapid7 by 68.8% in the 4th 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 during the last quarter. Pacer Advisors Inc. boosted its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after acquiring an additional 347 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the third quarter valued at about $69,000. Ostrum Asset Management grew its position in shares of 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 last quarter. Finally, KBC Group NV increased its stake in shares of 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 purchasing an additional 867 shares during the period. 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.