Rapid7 (NASDAQ:RPD) Sees Strong Trading Volume

Shares of Rapid7, Inc. (NASDAQ:RPD) saw unusually-strong trading volume on Wednesday . Approximately 2,139,190 shares were traded during trading, an increase of 133% from the previous session’s volume of 916,446 shares.The stock last traded at $41.14 and had previously closed at $37.98.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. KeyCorp raised Rapid7 to a “hold” rating in a research note on Monday, June 17th. Truist Financial cut their target price on Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Scotiabank initiated coverage on Rapid7 in a research report on Friday, April 26th. They issued a “sector perform” rating and a $46.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Friday, May 10th. Finally, StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.73.

Rapid7 Stock Up 7.6 %

The business’s 50 day moving average is $39.83 and its 200 day moving average is $49.41. The company has a market cap of $2.55 billion, a P/E ratio of -19.80 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The firm had revenue of $205.10 million during the quarter, compared to analyst estimates of $204.10 million. As a group, equities research analysts forecast that Rapid7, Inc. will post 0.74 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new position in shares of Rapid7 in the first quarter valued at about $36,000. Mather Group LLC. acquired a new position in Rapid7 in the 1st quarter worth approximately $42,000. International Assets Investment Management LLC raised its position in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after buying an additional 943 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in Rapid7 during the 4th quarter valued at approximately $95,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Rapid7 in the 1st quarter valued at $83,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.