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

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

RPD has been the subject of several recent research reports. DA Davidson boosted their price target on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada lowered shares of 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 research report on Friday, September 20th. Jefferies Financial Group began coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial decreased their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Rapid7 Stock Up 0.7 %

Shares of NASDAQ RPD opened at $39.81 on Wednesday. The firm has a market cap of $2.52 billion, a PE ratio of 63.19 and a beta of 0.95. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88. The business has a fifty day simple moving average of $40.86 and a two-hundred day simple moving average of $39.00.

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

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently bought and sold shares of the business. Algert Global LLC lifted its holdings in Rapid7 by 158.6% during the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock valued at $5,272,000 after purchasing an additional 74,793 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Rapid7 in the 3rd quarter valued at about $948,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Rapid7 by 36.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock worth $3,429,000 after buying an additional 22,734 shares during the last quarter. Point72 Asset Management L.P. increased its stake in 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 buying an additional 2,719,791 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Rapid7 during the third quarter valued at approximately $1,679,000. 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.