Rapid7 (NASDAQ:RPD) Trading Up 6.4%

Shares of Rapid7, Inc. (NASDAQ:RPD) rose 6.4% during mid-day trading on Monday . The stock traded as high as $40.08 and last traded at $39.74. Approximately 261,553 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 865,327 shares. The stock had previously closed at $37.36.

Wall Street Analyst Weigh In

A number of analysts have commented on RPD shares. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a report on Wednesday, July 10th. Piper Sandler decreased their price objective on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, KeyCorp raised shares of Rapid7 to a “hold” rating in a report on Monday, June 17th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.13.

Rapid7 Price Performance

The firm has a market capitalization of $2.49 billion, a P/E ratio of -19.39 and a beta of 0.96. The stock’s 50-day simple moving average is $36.61 and its two-hundred day simple moving average is $40.44.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same period in the prior year, the business posted ($0.33) earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, analysts forecast that Rapid7, Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently bought and sold shares of the business. Algert Global LLC lifted its position in Rapid7 by 158.6% during the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock valued at $5,272,000 after purchasing an additional 74,793 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Rapid7 by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after purchasing an additional 18,907 shares during the last quarter. SG Americas Securities LLC lifted its position in Rapid7 by 7,688.6% during the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after purchasing an additional 163,075 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after acquiring an additional 1,124,429 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company’s stock valued at $1,901,000 after acquiring an additional 31,766 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.