25,383 Shares in Rapid7, Inc. (NASDAQ:RPD) Purchased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Rapid7, Inc. (NASDAQ:RPD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,383 shares of the technology company’s stock, valued at approximately $1,084,000.

Other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Rapid7 during the first quarter worth $36,000. Mather Group LLC. acquired a new stake in shares of Rapid7 in the first quarter valued at about $42,000. Summit Securities Group LLC bought a new stake in Rapid7 during the second quarter worth about $43,000. International Assets Investment Management LLC boosted its position in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 during the second quarter valued at approximately $72,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus dropped their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. UBS Group cut their price target on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Rapid7 in a research note on Wednesday, August 7th. Susquehanna cut their target price on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $46.00 price target on shares of Rapid7 in a research report on Wednesday, July 10th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Rapid7 Price Performance

Rapid7 stock traded up $0.70 during midday trading on Thursday, hitting $37.85. The company’s stock had a trading volume of 361,600 shares, compared to its average volume of 889,236. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -18.41 and a beta of 0.98. Rapid7, Inc. has a 1-year low of $32.94 and a 1-year high of $61.88. The company has a 50-day moving average price of $38.83 and a two-hundred day moving average price of $43.84.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.33) earnings per share. Sell-side analysts forecast that Rapid7, Inc. will post 0.8 EPS for the current year.

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.