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

StockNews.com downgraded shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research report report published on Thursday.

RPD has been the topic of a number of other reports. Scotiabank cut their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday. UBS Group cut their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial decreased their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday. Jefferies Financial Group cut their price target on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Stock Performance

NASDAQ RPD opened at $34.82 on Thursday. The firm has a market capitalization of $2.20 billion, a PE ratio of 55.27 and a beta of 0.96. Rapid7 has a one year low of $32.94 and a one year high of $61.79. The company has a 50-day simple moving average of $39.39 and a 200-day simple moving average of $38.84.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Equities analysts forecast that Rapid7 will post 0.98 earnings per share for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB boosted its stake in shares of Rapid7 by 100.8% during the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after acquiring an additional 37,708 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rapid7 during the third quarter valued at $948,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Rapid7 by 36.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after purchasing an additional 22,734 shares during the period. Stifel Financial Corp purchased a new position in Rapid7 in the 3rd quarter worth about $1,006,000. Finally, Maverick Capital Ltd. acquired a new stake in Rapid7 during the 3rd quarter worth about $1,679,000. 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.