Rapid7 (NASDAQ:RPD) Price Target Raised to $28.00 at Morgan Stanley

Rapid7 (NASDAQ:RPD) had its price objective boosted by Morgan Stanley from $26.00 to $28.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird lifted their price target on Rapid7 from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group reduced their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group reduced their target price on Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Susquehanna reduced their target price on Rapid7 from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Citigroup reduced their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.53.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $24.56 on Tuesday. The stock has a market cap of $1.58 billion, a PE ratio of 62.97 and a beta of 1.06. Rapid7 has a fifty-two week low of $21.61 and a fifty-two week high of $44.48. The stock has a fifty day moving average of $25.52 and a 200-day moving average of $34.15.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. On average, sell-side analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insider Activity

In related news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the transaction, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RPD. Shapiro Capital Management LLC increased its holdings 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 during the period. Penserra Capital Management LLC increased its holdings in Rapid7 by 95.8% during the 1st quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company’s stock valued at $49,841,000 after purchasing an additional 919,955 shares during the period. Nuveen LLC purchased a new position in Rapid7 during the 1st quarter valued at about $15,510,000. Estuary Capital Management LP purchased a new position in shares of Rapid7 during the 4th quarter worth approximately $20,714,000. Finally, Dendur Capital LP purchased a new position in shares of Rapid7 during the 4th quarter worth approximately $19,190,000. Hedge funds and other 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.