Rapid7 (NASDAQ:RPD) Stock Rating Upgraded by Stephens

Rapid7 (NASDAQ:RPD) was upgraded by Stephens to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group decreased their price objective on Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley started coverage on shares of Rapid7 in a report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 price objective on the stock. Citigroup reduced their price objective on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, 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 research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.05.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $26.78 on Monday. The stock’s 50-day moving average is $32.60 and its 200 day moving average is $37.27. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 68.67 and a beta of 0.92. Rapid7 has a one year low of $25.98 and a one year high of $50.55.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share 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%. On average, sell-side analysts expect that Rapid7 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 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 transaction of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RPD. Shapiro Capital Management LLC raised its stake in Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after purchasing an additional 964,899 shares in the last quarter. Estuary Capital Management LP bought a new stake in shares of Rapid7 during the 4th quarter worth $20,714,000. Dendur Capital LP purchased a new position in Rapid7 in the fourth quarter worth $19,190,000. Raymond James Financial Inc. bought a new position in Rapid7 in the fourth quarter valued at $12,050,000. Finally, Marshall Wace LLP raised its position in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after purchasing an additional 280,913 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.