Rapid7 (NASDAQ:RPD) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Rapid7 (NASDAQ:RPD) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $46.00 price objective on the technology company’s stock.

Several other analysts have also recently commented on RPD. Mizuho lowered their target price on Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Susquehanna lowered their target price on Rapid7 from $55.00 to $40.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus lowered their target price on Rapid7 from $63.00 to $51.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Truist Financial lowered their target price on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. Finally, KeyCorp upgraded Rapid7 to a hold rating in a research report on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of Hold and a consensus price target of $51.13.

Rapid7 Trading Down 1.4 %

Shares of Rapid7 stock opened at $39.18 on Wednesday. The business’s 50 day simple moving average is $39.06 and its 200-day simple moving average is $48.18. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -19.11 and a beta of 0.98. Rapid7 has a twelve month low of $35.08 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. Sell-side analysts predict that Rapid7 will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Rapid7

Several large investors have recently modified their holdings of RPD. First Trust Advisors LP boosted its stake in shares of Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares in the last quarter. Norges Bank bought a new stake in shares of Rapid7 during the 4th quarter worth $37,790,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rapid7 by 46.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after acquiring an additional 397,968 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after acquiring an additional 160,531 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after acquiring an additional 148,440 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

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.