Rapid7 (NASDAQ:RPD) Rating Lowered to “Hold” at StockNews.com

Rapid7 (NASDAQ:RPD) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

RPD has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. DA Davidson upped their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.59.

Rapid7 Trading Up 5.2 %

RPD opened at $41.06 on Tuesday. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The firm’s 50 day simple moving average is $38.83 and its two-hundred day simple moving average is $38.44. The company has a market capitalization of $2.60 billion, a PE ratio of 65.18 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $210.04 million. During the same period last year, the firm earned $0.11 EPS. Rapid7’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts forecast that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly 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 the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Point72 Asset Management L.P. increased its position in shares of Rapid7 by 252.0% during the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after acquiring an additional 2,719,791 shares during the period. Cannae Holdings Inc. bought a new stake in Rapid7 during the 2nd quarter valued at $15,130,000. Invenomic Capital Management LP purchased a new stake in shares of Rapid7 in the 3rd quarter worth $6,647,000. SG Americas Securities LLC grew its position in shares of 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 in the last quarter. Finally, 272 Capital LP purchased a new position in shares of Rapid7 during the second quarter valued at $6,979,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.