Shares of Rapid7 Inc (NASDAQ:RPD) shot up 2.2% during mid-day trading on Monday after DA Davidson raised their price target on the stock to $40.00. DA Davidson currently has a neutral rating on the stock. Rapid7 traded as high as $45.17 and last traded at $45.49. 22,785 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 646,893 shares. The stock had previously closed at $44.49.

A number of other analysts also recently weighed in on RPD. Zacks Investment Research downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th. BidaskClub cut Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 7th. Morgan Stanley set a $35.00 price objective on Rapid7 and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Finally, Monness Crespi & Hardt raised their price objective on Rapid7 from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.43.

In related news, SVP Peter Kaes sold 9,809 shares of Rapid7 stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $38.00, for a total transaction of $372,742.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew F. Burton sold 15,000 shares of Rapid7 stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $36.40, for a total transaction of $546,000.00. The disclosure for this sale can be found here. Insiders sold 53,769 shares of company stock worth $1,841,911 over the last quarter. 25.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in Rapid7 by 37.9% in the 2nd quarter. Northern Trust Corp now owns 454,075 shares of the technology company’s stock worth $12,814,000 after purchasing an additional 124,722 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Rapid7 by 2,523.8% in the third quarter. Bank of Montreal Can now owns 190,465 shares of the technology company’s stock worth $7,032,000 after acquiring an additional 183,206 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Rapid7 by 2.2% during the third quarter. First Trust Advisors LP now owns 155,376 shares of the technology company’s stock worth $5,736,000 after buying an additional 3,351 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Rapid7 during the third quarter valued at approximately $688,000. Finally, Columbus Circle Investors boosted its position in Rapid7 by 46.6% during the third quarter. Columbus Circle Investors now owns 701,831 shares of the technology company’s stock valued at $25,912,000 after purchasing an additional 223,083 shares during the last quarter. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $2.12 billion, a PE ratio of -44.93 and a beta of 1.14. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.83 and a quick ratio of 1.83.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Rapid7 had a negative return on equity of 59.16% and a negative net margin of 22.76%. The company had revenue of $70.64 million for the quarter, compared to analyst estimates of $66.66 million. During the same quarter last year, the company posted ($0.17) EPS. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts predict that Rapid7 Inc will post -0.58 EPS for the current fiscal year.

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About Rapid7 (NASDAQ:RPD)

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.

See Also: Cost of Goods Sold (COGS)

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