Rapid7 (NASDAQ:RPD) Research Coverage Started at Morgan Stanley

Morgan Stanley assumed coverage on shares of Rapid7 (NASDAQ:RPD) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $33.00 price objective on the technology company’s stock.

Other analysts have also issued research reports about the company. Robert W. Baird cut their price objective on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 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 report on Thursday, February 13th. Jefferies Financial Group lowered their target price on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group lowered their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus price target of $40.50.

Rapid7 Trading Down 3.4 %

Rapid7 stock opened at $28.35 on Tuesday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 72.69 and a beta of 0.92. The stock has a fifty day simple moving average of $34.34 and a two-hundred day simple moving average of $37.63. Rapid7 has a 12 month low of $26.77 and a 12 month high of $51.89.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS 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%. On average, equities research analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Several large investors have recently made changes to their positions in RPD. CSS LLC IL bought a new stake in Rapid7 during the fourth quarter worth approximately $837,000. Vident Advisory LLC increased its stake in Rapid7 by 47.7% during the fourth quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock worth $1,360,000 after acquiring an additional 10,923 shares during the last quarter. Two Sigma Advisers LP increased its stake in Rapid7 by 87.7% during the fourth quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock worth $430,000 after acquiring an additional 5,000 shares during the last quarter. Two Sigma Investments LP increased its stake in Rapid7 by 48.7% during the fourth quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock worth $5,719,000 after acquiring an additional 46,567 shares during the last quarter. Finally, Shapiro Capital Management LLC increased its stake in Rapid7 by 295.9% during the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after acquiring an additional 964,899 shares during the last quarter. 95.66% of the stock is owned by 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.