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Rapid7 (NASDAQ:RPD) had its price objective increased by analysts at Morgan Stanley from $71.00 to $86.00 in a report released on Friday, The Fly reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.23% from the company’s previous close.

Several other brokerages also recently commented on RPD. TheStreet raised shares of Rapid7 from a “d” rating to a “c-” rating in a research note on Thursday, November 5th. Zacks Investment Research upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC upped their price target on shares of Rapid7 from $72.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Royal Bank of Canada upped their price target on shares of Rapid7 from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Finally, Barclays upped their price target on shares of Rapid7 from $77.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $76.67.

Shares of RPD stock opened at $85.80 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.54 and a current ratio of 1.54. Rapid7 has a one year low of $31.34 and a one year high of $94.60. The company’s 50-day simple moving average is $79.79 and its 200-day simple moving average is $65.31. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of -58.77 and a beta of 1.17.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.30). The business had revenue of $105.10 million for the quarter, compared to analyst estimates of $101.87 million. Rapid7 had a negative return on equity of 60.46% and a negative net margin of 19.87%. Rapid7’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS. As a group, research analysts forecast that Rapid7 will post -1.33 EPS for the current year.

In other Rapid7 news, Director Thomas E. Schodorf sold 1,750 shares of the firm’s stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $83.00, for a total value of $145,250.00. Following the transaction, the director now directly owns 26,415 shares of the company’s stock, valued at approximately $2,192,445. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas E. Schodorf sold 750 shares of the firm’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $90.36, for a total transaction of $67,770.00. Following the completion of the transaction, the director now directly owns 24,055 shares in the company, valued at $2,173,609.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,931 shares of company stock worth $5,142,525. 4.60% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. raised its holdings in Rapid7 by 5.8% during the 3rd quarter. Penn Capital Management Co. Inc. now owns 113,133 shares of the technology company’s stock worth $6,942,000 after purchasing an additional 6,229 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Rapid7 by 58.7% in the third quarter. Dupont Capital Management Corp now owns 18,046 shares of the technology company’s stock worth $1,105,000 after purchasing an additional 6,676 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rapid7 by 8.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 312,539 shares of the technology company’s stock worth $15,946,000 after purchasing an additional 24,943 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Rapid7 in the third quarter worth approximately $73,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Rapid7 in the second quarter worth approximately $1,061,000. 96.17% of the stock is currently owned by hedge funds and other institutional investors.

About Rapid7

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enable customers to create and manage analytics-driven cyber security risk management programs. Its platform include vulnerability management solutions comprising InsightVM that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a SOAR solution that is used by security professionals.

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