Rapid7 (NASDAQ:RPD) Stock Price Up 8.5% – What’s Next?

Rapid7, Inc. (NASDAQ:RPD) traded up 8.5% on Monday . The company traded as high as $29.58 and last traded at $30.69. 118,178 shares traded hands during trading, a decline of 86% from the average session volume of 828,136 shares. The stock had previously closed at $28.29.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Raymond James lowered their price target on Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group lowered their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley assumed coverage on Rapid7 in a report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 target price for the company. Finally, Scotiabank lowered their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average price target of $40.50.

Rapid7 Stock Performance

The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 76.15 and a beta of 0.92. The firm has a 50-day moving average price of $34.13 and a two-hundred day moving average price of $37.58.

Rapid7 (NASDAQ:RPD) last issued its earnings results 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%. Research analysts anticipate that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Several large investors have recently added to or reduced their stakes in RPD. Shapiro Capital Management LLC grew its stake in Rapid7 by 295.9% during the 4th 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 in the last quarter. Estuary Capital Management LP acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $20,714,000. Dendur Capital LP acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $19,190,000. Raymond James Financial Inc. acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $12,050,000. Finally, Marshall Wace LLP grew its position in shares of Rapid7 by 144.2% in 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 in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.