Stephens Upgrades Rapid7 (NASDAQ:RPD) to “Strong-Buy”

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

A number of other analysts have also issued reports on the stock. Robert W. Baird reduced their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. DA Davidson decreased their target price 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. UBS Group dropped their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. Finally, Barclays dropped their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.05.

Rapid7 Stock Performance

Rapid7 stock opened at $26.78 on Monday. The company has a 50 day moving average price of $32.60 and a 200 day moving average price of $37.27. Rapid7 has a 52 week low of $25.98 and a 52 week high of $50.55. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 68.67 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Equities analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’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 transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Shapiro Capital Management LLC increased its position in shares of 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 period. Estuary Capital Management LP acquired a new stake in Rapid7 during the fourth quarter worth $20,714,000. Dendur Capital LP bought a new stake in Rapid7 in the 4th quarter valued at $19,190,000. Raymond James Financial Inc. acquired a new position in shares of Rapid7 in the 4th quarter valued at $12,050,000. Finally, Marshall Wace LLP lifted its holdings in shares of Rapid7 by 144.2% during the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after acquiring an additional 280,913 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.