Rapid7 (NASDAQ:RPD) had its target price lifted by Morgan Stanley from $20.00 to $23.00 in a report issued on Tuesday. They currently have an equal weight rating on the technology company’s stock.

A number of other research analysts have also commented on RPD. Rosenblatt Securities restated a buy rating and issued a $23.00 price objective on shares of Rapid7 in a research note on Thursday, December 14th. Monness Crespi & Hardt restated a buy rating and issued a $27.00 price objective (up from $23.00) on shares of Rapid7 in a research note on Tuesday. Northland Securities set a $28.00 price objective on shares of Rapid7 and gave the company a buy rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Rapid7 from a buy rating to a hold rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada restated a buy rating and issued a $30.00 price objective on shares of Rapid7 in a research note on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Rapid7 currently has a consensus rating of Buy and a consensus target price of $24.29.

Shares of Rapid7 (NASDAQ:RPD) opened at $23.36 on Tuesday. Rapid7 has a 1 year low of $13.42 and a 1 year high of $25.95. The firm has a market cap of $1,060.00 and a price-to-earnings ratio of -21.83.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). Rapid7 had a negative net margin of 22.44% and a negative return on equity of 115.79%. The company had revenue of $57.73 million during the quarter, compared to analysts’ expectations of $57.39 million. During the same period last year, the firm earned ($0.13) earnings per share. Rapid7’s revenue was up 28.2% on a year-over-year basis. analysts anticipate that Rapid7 will post -1.04 EPS for the current fiscal year.

In other news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $42,020,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alan Matthews sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $22.06, for a total transaction of $441,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,345,246 shares of company stock worth $49,165,672. 56.90% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Rapid7 by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 67,670 shares of the technology company’s stock worth $1,139,000 after acquiring an additional 399 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Rapid7 by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 18,004 shares of the technology company’s stock worth $303,000 after acquiring an additional 625 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Rapid7 by 23.3% during the second quarter. Goldman Sachs Group Inc. now owns 17,955 shares of the technology company’s stock worth $302,000 after acquiring an additional 3,398 shares during the period. Teachers Advisors LLC increased its stake in shares of Rapid7 by 11.8% during the second quarter. Teachers Advisors LLC now owns 37,678 shares of the technology company’s stock worth $634,000 after acquiring an additional 3,991 shares during the period. Finally, Gradient Investments LLC increased its stake in shares of Rapid7 by 26.1% during the fourth quarter. Gradient Investments LLC now owns 23,085 shares of the technology company’s stock worth $431,000 after acquiring an additional 4,783 shares during the period. Institutional investors and hedge funds own 68.49% of the company’s stock.

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About Rapid7

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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