Rapid7 (NASDAQ:RPD) Shares Gap Up to $33.02

Rapid7, Inc. (NASDAQ:RPD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $33.02, but opened at $35.56. Rapid7 shares last traded at $38.64, with a volume of 401,849 shares traded.

Analyst Ratings Changes

A number of analysts recently commented on the company. Susquehanna reduced their price objective on Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. JPMorgan Chase & Co. dropped their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. UBS Group reduced their price objective on Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.44.

Rapid7 Price Performance

The company’s 50-day simple moving average is $38.68 and its 200-day simple moving average is $45.93. The stock has a market capitalization of $2.38 billion, a P/E ratio of -18.85 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. On average, analysts forecast that Rapid7, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapid7

A number of institutional investors and hedge funds have recently modified their holdings of RPD. Comerica Bank increased its holdings in shares of Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after acquiring an additional 281 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Rapid7 by 2.0% in the 4th quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock worth $996,000 after buying an additional 344 shares in the last quarter. Virtu Financial LLC increased its holdings in Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after buying an additional 346 shares in the last quarter. Arizona State Retirement System increased its holdings in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after buying an additional 465 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its holdings in Rapid7 by 30.3% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 2,431 shares of the technology company’s stock worth $105,000 after buying an additional 565 shares in the last quarter. 95.66% of the stock is 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.