Stephens Initiates Coverage on Rapid7 (NASDAQ:RPD)

Research analysts at Stephens began coverage on shares of Rapid7 (NASDAQ:RPD) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $33.00 price target on the technology company’s stock. Stephens’ target price points to a potential upside of 20.26% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus decreased their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price target on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group cut their price objective on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley initiated 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. 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 stock. According to MarketBeat, Rapid7 currently has an average rating of “Hold” and a consensus price target of $39.05.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $27.44 on Tuesday. The business’s fifty day moving average price is $32.36 and its two-hundred day moving average price is $37.21. The stock has a market cap of $1.76 billion, a PE ratio of 70.36 and a beta of 0.99. Rapid7 has a one year low of $25.98 and a one year high of $50.55.

Rapid7 (NASDAQ:RPD) last posted 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, equities research 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 the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Rapid7 by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after acquiring an additional 60,095 shares during the last quarter. JANA Partners Management LP lifted its holdings in shares of Rapid7 by 0.9% in the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after purchasing an additional 34,589 shares during the last quarter. Geode Capital Management LLC boosted its position in Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares during the period. Shapiro Capital Management LLC grew its stake in Rapid7 by 295.9% during the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after buying an additional 964,899 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Rapid7 by 6.8% in the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after buying an additional 79,836 shares during the period. 95.66% of the stock is 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.