Rapid7 (RPD) PT Set at $35.00 by Morgan Stanley

Rapid7 (NASDAQ:RPD) received a $35.00 target price from equities research analysts at Morgan Stanley in a report released on Wednesday. The firm currently has a “hold” rating on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 2.52% from the company’s current price.

A number of other equities analysts also recently weighed in on RPD. BidaskClub raised shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 21st. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 target price on shares of Rapid7 in a research note on Tuesday, August 7th. Stifel Nicolaus raised their target price on shares of Rapid7 from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. KeyCorp raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Finally, Monness Crespi & Hardt raised their target price on shares of Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rapid7 presently has a consensus rating of “Buy” and a consensus target price of $35.79.

RPD stock traded down $1.39 during trading on Wednesday, reaching $34.14. The company had a trading volume of 15,888 shares, compared to its average volume of 467,165. Rapid7 has a 52 week low of $17.64 and a 52 week high of $39.40. The company has a market cap of $1.57 billion, a P/E ratio of -32.62 and a beta of 1.02.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.05. Rapid7 had a negative net margin of 23.83% and a negative return on equity of 89.66%. The business had revenue of $62.40 million during the quarter, compared to the consensus estimate of $59.50 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities research analysts anticipate that Rapid7 will post -1.01 earnings per share for the current year.

In related news, insider Vii Lp Tcv sold 182,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total value of $6,931,496.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew F. Burton sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $36.23, for a total transaction of $253,610.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,732 shares of company stock worth $8,852,242. Corporate insiders own 25.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its stake in shares of Rapid7 by 3,076.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock worth $45,292,000 after acquiring an additional 1,188,140 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Rapid7 by 64.5% during the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after acquiring an additional 1,002,292 shares during the last quarter. Emerald Advisers Inc. PA purchased a new position in shares of Rapid7 during the 2nd quarter worth $22,119,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Rapid7 during the 2nd quarter worth $15,328,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Rapid7 by 535.4% during the 1st quarter. Allianz Asset Management GmbH now owns 327,900 shares of the technology company’s stock worth $8,384,000 after acquiring an additional 276,293 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Analyst Recommendations for Rapid7 (NASDAQ:RPD)

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