Rapid7, Inc. (NASDAQ:RPD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned an average recommendation of “Hold” from the nineteen analysts that are covering the company, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $46.13.

A number of equities research analysts have recently commented on the stock. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Scotiabank reduced their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the 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 owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC lifted its stake in Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after acquiring an additional 74,793 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Rapid7 by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after acquiring an additional 18,907 shares during the last quarter. SG Americas Securities LLC lifted its stake in Rapid7 by 7,688.6% in the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after acquiring an additional 163,075 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company’s stock worth $1,901,000 after acquiring an additional 31,766 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Rapid7 by 252.0% in 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 last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Performance

NASDAQ:RPD opened at $40.28 on Friday. The company has a fifty day moving average of $37.03 and a two-hundred day moving average of $39.56. The stock has a market capitalization of $2.53 billion, a PE ratio of -47.95 and a beta of 0.97. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during 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%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) earnings per share. Research analysts forecast that Rapid7 will post 0.8 earnings per share for the current 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.