Rapid7, Inc. (NASDAQ:RPD) Given Consensus Recommendation of “Hold” by Brokerages

Rapid7, Inc. (NASDAQ:RPD) has been assigned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the company, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $44.59.

A number of research firms have recently weighed in on RPD. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. Piper Sandler cut their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. DA Davidson lifted their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target on the stock.

Rapid7 Stock Up 0.2 %

Shares of RPD stock opened at $42.60 on Friday. The business has a 50 day moving average of $39.87 and a two-hundred day moving average of $38.52. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a market cap of $2.69 billion, a P/E ratio of 67.62 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same period in the previous year, the firm posted $0.11 earnings per share. Rapid7’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Activity

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction 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 sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 17.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank lifted its stake in shares of Rapid7 by 1.1% in the 1st quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after purchasing an additional 346 shares during the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after acquiring an additional 400 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in Rapid7 by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after acquiring an additional 465 shares during the last quarter. 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.