Rapid7 (NASDAQ:RPD) Coverage Initiated by Analysts at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued on Tuesday, Marketbeat.com reports. The firm set an “equal weight” rating and a $33.00 price target on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 12.47% from the stock’s previous close.

RPD has been the subject of several other reports. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. UBS Group lowered their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Raymond James reduced their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial dropped their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Rapid7 has an average rating of “Hold” and an average target price of $40.50.

Rapid7 Trading Up 1.0 %

NASDAQ RPD opened at $29.34 on Tuesday. The stock has a 50-day simple moving average of $34.56 and a 200 day simple moving average of $37.70. The company has a market capitalization of $1.88 billion, a PE ratio of 75.23 and a beta of 0.92. Rapid7 has a 12 month low of $26.77 and a 12 month high of $51.99.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data 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, sell-side analysts predict that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction 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 trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Several hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its holdings 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 acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Rapid7 by 30.4% in the 4th 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 in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 during the 3rd quarter worth $69,000. Ostrum Asset Management raised its holdings in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after buying an additional 772 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.