Rapid7 (NASDAQ:RPD) Trading 8.5% Higher – What’s Next?

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

Analyst Ratings Changes

A number of research analysts recently issued reports on RPD shares. Jefferies Financial Group reduced their price objective on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Raymond James reduced their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Scotiabank cut their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus cut their target price on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Fifteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.50.

Rapid7 Stock Up 5.0 %

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

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

Insider Buying and Selling at Rapid7

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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the stock. Nordea Investment Management AB grew its stake in shares of Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after purchasing an additional 37,708 shares during the period. Raymond James Financial Inc. bought a new stake in Rapid7 during the 4th quarter worth approximately $12,050,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Rapid7 by 36.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock worth $3,429,000 after acquiring an additional 22,734 shares during the last quarter. Stifel Financial Corp bought a new stake in Rapid7 during the 3rd quarter worth approximately $1,006,000. Finally, Maverick Capital Ltd. bought a new stake in Rapid7 during the 3rd quarter worth approximately $1,679,000. 95.66% of the stock is currently 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.