Rapid7 (NASDAQ:RPD) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Rapid7 (NASDAQ:RPD) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $33.00 price objective on the technology company’s stock.

Several other analysts have also commented on RPD. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. UBS Group reduced their price objective 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 lowered their target price on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.50.

Rapid7 Stock Down 0.2 %

Shares of NASDAQ RPD opened at $29.05 on Tuesday. The company has a market capitalization of $1.86 billion, a PE ratio of 74.49 and a beta of 0.92. The stock’s 50 day moving average price is $34.75 and its 200-day moving average price is $37.75. Rapid7 has a twelve month low of $26.77 and a twelve month high of $51.99.

Rapid7 (NASDAQ:RPD) last posted 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 negative return on equity of 130.41% and a net margin of 3.46%. As a group, research analysts expect that Rapid7 will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Several hedge funds have recently bought and sold shares of RPD. Pacer Advisors Inc. increased its position in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after buying an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares in the last quarter. Ostrum Asset Management lifted its holdings in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after acquiring an additional 772 shares during the last quarter. Finally, KBC Group NV grew its position in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.