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 twelve analysts that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $56.20.

A number of equities research analysts have commented on RPD shares. UBS Group upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $70.00 in a research note on Monday, January 29th. Barclays raised their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Rapid7 in a report on Thursday, February 8th. StockNews.com cut Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th.

Insider Activity at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp Et Al boosted its position in Rapid7 by 46.5% during the 3rd quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock valued at $6,643,000 after acquiring an additional 46,053 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Rapid7 by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 10,798 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Rapid7 by 47.8% during the third quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company’s stock valued at $3,127,000 after purchasing an additional 22,100 shares in the last quarter. Raymond James & Associates boosted its position in Rapid7 by 41.5% during the third quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock valued at $4,615,000 after purchasing an additional 29,543 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after purchasing an additional 148,440 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Up 3.2 %

Shares of NASDAQ:RPD opened at $46.17 on Friday. Rapid7 has a twelve month low of $39.49 and a twelve month high of $61.88. The stock has a market capitalization of $2.86 billion, a PE ratio of -18.39 and a beta of 1.01. The firm’s 50 day moving average price is $52.07 and its 200-day moving average price is $53.14.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The business had revenue of $205.27 million for the quarter, compared to the consensus estimate of $201.52 million. Analysts expect that Rapid7 will post 0.86 earnings per share for the current fiscal year.

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.