Rapid7 (RPD) Given New $23.00 Price Target at Morgan Stanley

Rapid7 (NASDAQ:RPD) had its target price lifted by research analysts at Morgan Stanley from $20.00 to $23.00 in a research note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target points to a potential downside of 0.65% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Rosenblatt Securities reissued a “buy” rating and issued a $23.00 target price on shares of Rapid7 in a research note on Thursday, December 14th. Needham & Company LLC initiated coverage on Rapid7 in a research note on Monday, October 23rd. They issued a “buy” rating and a $23.00 target price on the stock. Zacks Investment Research raised Rapid7 from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Saturday, January 13th. Royal Bank of Canada reissued a “buy” rating and issued a $30.00 target price on shares of Rapid7 in a research note on Friday, January 26th. Finally, Northland Securities set a $28.00 target price on Rapid7 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Rapid7 currently has an average rating of “Buy” and an average target price of $24.29.

Rapid7 (NASDAQ RPD) opened at $23.15 on Tuesday. Rapid7 has a 12 month low of $13.42 and a 12 month high of $25.95. The stock has a market capitalization of $1,080.99, a PE ratio of -23.38 and a beta of 1.12.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Monday, February 12th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The firm had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.39 million. During the same period last year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. equities analysts predict that Rapid7 will post -1.04 EPS for the current fiscal year.

In other Rapid7 news, insider Vii Lp Tcv sold 102,465 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $18.33, for a total value of $1,878,183.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lee David Weiner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $18.41, for a total transaction of $368,200.00. The disclosure for this sale can be found here. Insiders sold 2,447,711 shares of company stock valued at $51,043,856 over the last 90 days. 56.90% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Crow Point Partners LLC purchased a new position in shares of Rapid7 during the fourth quarter valued at approximately $119,000. Fortaleza Asset Management Inc. purchased a new position in shares of Rapid7 during the fourth quarter valued at approximately $160,000. Citigroup Inc. lifted its holdings in shares of Rapid7 by 1,398.9% during the second quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after purchasing an additional 9,135 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Rapid7 during the third quarter valued at approximately $187,000. Finally, Hamilton Lane Advisors LLC purchased a new position in shares of Rapid7 during the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors 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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