Stifel Nicolaus Reiterates “Hold” Rating for Rapid7 (NASDAQ:RPD)

Rapid7 (NASDAQ:RPD)‘s stock had its “hold” rating reaffirmed by equities research analysts at Stifel Nicolaus in a note issued to investors on Friday, Marketbeat reports. They currently have a $42.00 target price on the technology company’s stock, down from their prior target price of $48.00. Stifel Nicolaus’ target price points to a potential upside of 8.14% from the stock’s previous close.

Several other equities analysts have also commented on the stock. UBS Group lowered their price objective on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $50.00 to $40.00 in a report on Friday, September 20th. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.71.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $38.84 on Friday. The company has a market cap of $2.46 billion, a P/E ratio of 61.65 and a beta of 0.96. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88. The firm’s fifty day moving average is $40.71 and its two-hundred day moving average is $39.09.

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. The firm had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, analysts forecast that Rapid7 will post 0.98 EPS for the current fiscal year.

Institutional Trading of Rapid7

Several institutional investors and hedge funds have recently modified their holdings of RPD. International Assets Investment Management LLC raised its position in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Rapid7 in the second quarter valued at about $35,000. RPg Family Wealth Advisory LLC bought a new position in Rapid7 during the 3rd quarter worth about $69,000. Point72 Hong Kong Ltd grew its holdings in Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings 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 in the last quarter. 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.