Rapid7’s (RPD) Hold Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of Rapid7 (NASDAQ:RPD) in a report issued on Friday morning, MarketBeat Ratings reports. The firm currently has a $42.00 price objective on the technology company’s stock, down from their previous price objective of $48.00.

A number of other equities research analysts have also recently commented on RPD. 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. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Truist Financial cut their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, UBS Group cut their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average price target of $43.71.

Rapid7 Stock Down 2.4 %

RPD stock opened at $38.84 on Friday. The business’s 50-day moving average price is $40.71 and its 200-day moving average price is $39.12. The stock has a market cap of $2.46 billion, a P/E ratio of 61.65 and a beta of 0.96. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.88.

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

Hedge Funds Weigh In On Rapid7

Hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its position in 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 acquiring an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after purchasing an additional 400 shares during the period. International Assets Investment Management LLC increased its stake in Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the period. Diversified Trust Co lifted its holdings in Rapid7 by 3.7% during the 3rd quarter. Diversified Trust Co now owns 19,826 shares of the technology company’s stock valued at $791,000 after buying an additional 716 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Rapid7 in the 2nd quarter valued at about $35,000. 95.66% of the stock is currently owned by institutional investors.

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.