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

Rapid7, Inc. (NASDAQ:RPD) has earned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $45.44.

Several equities analysts recently issued reports on RPD shares. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. UBS Group reduced their target price on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th.

Insider Buying and Selling

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its position in shares of Rapid7 by 252.0% during 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. Cannae Holdings Inc. purchased a new stake in Rapid7 during the 2nd quarter worth about $15,130,000. SG Americas Securities LLC lifted its holdings in Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after buying an additional 163,075 shares during the last quarter. 272 Capital LP acquired a new position in shares of Rapid7 during the 2nd quarter worth about $6,979,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Rapid7 in the 2nd quarter valued at about $6,106,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Price Performance

Shares of RPD opened at $39.85 on Tuesday. The firm has a market capitalization of $2.50 billion, a PE ratio of -47.44 and a beta of 0.96. The company’s fifty day moving average price is $37.74 and its 200-day moving average price is $38.81. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced 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. The firm had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business posted ($0.33) earnings per share. As a group, research analysts anticipate that Rapid7 will post 0.8 EPS for the current fiscal year.

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.