Rapid7 (NASDAQ:RPD) Coverage Initiated by Analysts at Stephens

Research analysts at Stephens initiated coverage on shares of Rapid7 (NASDAQ:RPD) in a note issued to investors on Tuesday. The brokerage set an “equal weight” rating and a $33.00 price target on the technology company’s stock. Stephens’ price objective suggests a potential upside of 25.74% from the company’s current price.

A number of other research firms have also recently issued reports on RPD. Barclays cut their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group dropped their price target on Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday. DA Davidson cut their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup dropped their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.05.

Rapid7 Stock Performance

Shares of Rapid7 stock traded down $0.27 during trading on Tuesday, reaching $26.25. 29,501 shares of the company’s stock were exchanged, compared to its average volume of 845,166. Rapid7 has a 1-year low of $25.98 and a 1-year high of $50.55. The company has a market cap of $1.68 billion, a P/E ratio of 67.29 and a beta of 0.92. The firm’s 50-day moving average price is $32.85 and its 200 day moving average price is $37.33.

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

Insider Activity

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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its stake in shares of Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after purchasing an additional 37,708 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Rapid7 in the 4th quarter worth approximately $12,050,000. Stifel Financial Corp bought a new position in shares of Rapid7 during the third quarter valued at approximately $1,006,000. Harbor Capital Advisors Inc. lifted its position in shares of Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 6,645 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other 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.