Rapid7 (NASDAQ:RPD) Downgraded by StockNews.com to “Hold”

Rapid7 (NASDAQ:RPD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other brokerages have also commented on RPD. JPMorgan Chase & Co. boosted their price objective on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and decreased their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Truist Financial dropped their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Down 0.8 %

Shares of RPD traded down $0.31 during trading hours on Tuesday, reaching $39.02. The stock had a trading volume of 910,138 shares, compared to its average volume of 844,213. The firm has a 50-day simple moving average of $38.69 and a 200 day simple moving average of $38.42. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 61.94 and a beta of 0.96.

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

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 approximately $698,400. This represents a 17.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Algert Global LLC grew its position in shares of Rapid7 by 158.6% in 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. Price T Rowe Associates Inc. MD boosted its stake in Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after purchasing an additional 18,907 shares during the period. SG Americas Securities LLC increased its position in shares of Rapid7 by 7,688.6% during the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after buying an additional 163,075 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Rapid7 in the third quarter worth about $948,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of 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 buying an additional 2,719,791 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

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.