Rapid7, Inc. (NASDAQ:RPD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD) have been given an average rating of “Hold” by the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $46.13.

Several brokerages have recently weighed in on RPD. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. KeyCorp upgraded shares of Rapid7 to a “hold” rating in a research note on Monday, June 17th. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price objective on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Rapid7 Stock Up 0.6 %

Rapid7 stock opened at $40.51 on Friday. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88. The firm has a fifty day moving average of $36.63 and a 200-day moving average of $39.86. The firm has a market capitalization of $2.54 billion, a P/E ratio of -19.76 and a beta of 0.97.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Rapid7 will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its stake in shares of Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after purchasing an additional 2,719,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after purchasing an additional 397,968 shares during the last quarter. Cannae Holdings Inc. acquired a new position in shares of Rapid7 in the 2nd quarter worth approximately $15,130,000. SG Americas Securities LLC grew its stake in shares of Rapid7 by 7,688.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after purchasing an additional 163,075 shares during the last quarter. Finally, 272 Capital LP acquired a new position in shares of Rapid7 in the 2nd quarter worth approximately $6,979,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

About Rapid7

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.