Rapid7, Inc. (NASDAQ:RPD) Receives Consensus Recommendation of “Hold” from Analysts

Rapid7, Inc. (NASDAQ:RPD) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.73.

RPD has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Citigroup decreased their price target on Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. UBS Group cut their price objective on Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Truist Financial decreased their target price on Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Finally, StockNews.com lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th.

Insiders Place Their Bets

In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP increased its stake in Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after acquiring an additional 1,124,429 shares during the period. Norges Bank acquired a new position in shares of Rapid7 in the 4th quarter worth approximately $37,790,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after buying an additional 397,968 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after buying an additional 160,531 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rapid7 by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after buying an additional 148,440 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Price Performance

Shares of Rapid7 stock opened at $42.72 on Wednesday. The stock has a 50-day simple moving average of $39.62 and a 200-day simple moving average of $48.86. Rapid7 has a 52-week low of $35.08 and a 52-week high of $61.88. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -20.84 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. As a group, equities research analysts predict that Rapid7 will post 0.75 earnings per share for the current year.

Rapid7 Company Profile

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.