Rapid7 (NASDAQ:RPD) Sees Unusually-High Trading Volume

Rapid7, Inc. (NASDAQ:RPD) shares saw an uptick in trading volume on Wednesday . 2,139,190 shares traded hands 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.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RPD shares. Piper Sandler dropped their target price on Rapid7 from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Canaccord Genuity Group lowered their price target on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. UBS Group cut their price objective on Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. KeyCorp raised Rapid7 to a “hold” rating in a research report on Monday, June 17th. Finally, Truist Financial dropped their target price on Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. Twelve investment 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, Rapid7 currently has a consensus rating of “Hold” and a consensus price target of $51.73.

Rapid7 Price Performance

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

Rapid7 (NASDAQ:RPD) last issued its 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 analysts’ expectations of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. Research analysts anticipate that Rapid7, Inc. will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Rhumbline Advisers lifted its position in shares of Rapid7 by 2.3% during the 3rd quarter. Rhumbline Advisers now owns 85,186 shares of the technology company’s stock valued at $3,900,000 after acquiring an additional 1,918 shares during the period. Envestnet Asset Management Inc. increased its holdings in Rapid7 by 45.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 116,258 shares of the technology company’s stock valued at $5,322,000 after buying an additional 36,119 shares during the period. Northern Trust Corp raised its position in shares of Rapid7 by 0.9% in the 3rd quarter. Northern Trust Corp now owns 607,687 shares of the technology company’s stock valued at $27,820,000 after buying an additional 5,139 shares in the last quarter. Hawk Ridge Capital Management LP lifted its holdings in shares of Rapid7 by 757.7% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after acquiring an additional 1,406,619 shares during the period. Finally, Gotham Asset Management LLC acquired a new stake in shares of Rapid7 during the 3rd quarter worth approximately $309,000. Institutional investors own 95.66% of the company’s stock.

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.