Rhumbline Advisers Acquires 4,221 Shares of Rapid7, Inc. (NASDAQ:RPD)

Rhumbline Advisers grew its stake in shares of Rapid7, Inc. (NASDAQ:RPD) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,430 shares of the technology company’s stock after acquiring an additional 4,221 shares during the period. Rhumbline Advisers owned 0.15% of Rapid7 worth $3,909,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in Rapid7 in the 1st quarter worth approximately $36,000. Mather Group LLC. bought a new position in shares of Rapid7 in the first quarter worth approximately $42,000. Summit Securities Group LLC purchased a new stake in shares of Rapid7 during the 2nd quarter valued at $43,000. Financial Connections Group Inc. bought a new position in Rapid7 in the second quarter valued at $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 during the 1st quarter valued at about $83,000. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RPD shares. Baird R W lowered Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Sandler decreased their price objective on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of Rapid7 in a report on Wednesday, August 7th. UBS Group lowered their price target on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.75.

Rapid7 Trading Up 1.0 %

Shares of Rapid7 stock opened at $34.56 on Tuesday. The business has a fifty day simple moving average of $37.59 and a two-hundred day simple moving average of $41.86. The firm has a market capitalization of $2.17 billion, a P/E ratio of -16.86 and a beta of 0.96. Rapid7, Inc. has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. Rapid7’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) EPS. Analysts predict that Rapid7, Inc. will post 0.8 earnings per share for the current year.

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.