Morgan Stanley set a $35.00 target price on Rapid7 (NASDAQ:RPD) in a research note released on Wednesday. The brokerage currently has a hold rating on the technology company’s stock.

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

Rapid7 stock traded down $0.81 during trading on Wednesday, reaching $34.72. 543,214 shares of the company’s stock were exchanged, compared to its average volume of 530,601. Rapid7 has a 52-week low of $17.64 and a 52-week high of $39.40. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -33.07 and a beta of 1.02.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $59.50 million. During the same period in the prior year, the company earned ($0.15) EPS. The firm’s revenue was up 23.6% on a year-over-year basis. On average, analysts predict that Rapid7 will post -1.01 earnings per share for the current year.

In other news, COO Andrew F. Burton sold 7,440 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $36.24, for a total value of $269,625.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vii Lp Tcv sold 182,600 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total transaction of $6,931,496.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,732 shares of company stock valued at $8,852,242. 25.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Rapid7 by 2.4% in the 3rd quarter. BlackRock Inc. now owns 2,619,925 shares of the technology company’s stock valued at $96,727,000 after purchasing an additional 62,532 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Rapid7 by 3,076.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,226,757 shares of the technology company’s stock valued at $45,292,000 after purchasing an additional 1,188,140 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Rapid7 by 8.2% in the 2nd quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock valued at $33,689,000 after purchasing an additional 90,800 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Rapid7 by 27.5% in the 2nd quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock valued at $28,197,000 after purchasing an additional 215,700 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Rapid7 by 1.6% in the 2nd quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock valued at $25,302,000 after purchasing an additional 14,478 shares in the last quarter. Institutional investors and hedge funds 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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