Rapid7 (NASDAQ:RPD) Rating Increased to Strong-Buy at Stephens

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

Several other analysts have also recently issued reports on RPD. JPMorgan Chase & Co. cut their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group cut their price objective on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday. Truist Financial decreased their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Barclays reduced their price objective on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, DA Davidson reduced their price objective on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. 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. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $39.05.

Rapid7 Price Performance

Shares of RPD stock opened at $26.78 on Monday. The business has a 50-day moving average of $32.60 and a 200 day moving average of $37.27. The stock has a market capitalization of $1.71 billion, a PE ratio of 68.67 and a beta of 0.92. Rapid7 has a 1-year low of $25.98 and a 1-year high of $50.55.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Analysts anticipate that Rapid7 will post 0.35 EPS for the current 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 shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RPD. CSS LLC IL purchased a new position in Rapid7 during the 4th quarter valued at approximately $837,000. Vident Advisory LLC grew its holdings in shares of Rapid7 by 47.7% in the fourth quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock valued at $1,360,000 after purchasing an additional 10,923 shares in the last quarter. Two Sigma Advisers LP increased its position in Rapid7 by 87.7% in the fourth quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock worth $430,000 after purchasing an additional 5,000 shares during the last quarter. Two Sigma Investments LP raised its stake in Rapid7 by 48.7% during the fourth quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock valued at $5,719,000 after purchasing an additional 46,567 shares in the last quarter. Finally, Shapiro Capital Management LLC lifted its position in Rapid7 by 295.9% during 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 during the last quarter. Hedge funds and other 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.