272 Capital LP Takes Position in Rapid7, Inc. (NASDAQ:RPD)

272 Capital LP bought a new position in shares of Rapid7, Inc. (NASDAQ:RPD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 161,438 shares of the technology company’s stock, valued at approximately $6,979,000. Rapid7 comprises about 3.5% of 272 Capital LP’s investment portfolio, making the stock its 8th largest holding.

Several other large investors also recently bought and sold shares of RPD. Quest Partners LLC purchased a new position in shares of Rapid7 in the second quarter worth about $35,000. Fidelis Capital Partners LLC acquired a new position in Rapid7 in the 1st quarter worth approximately $36,000. Mather Group LLC. purchased a new position in Rapid7 during the 1st quarter worth approximately $42,000. Summit Securities Group LLC acquired a new stake in Rapid7 during the 2nd quarter valued at approximately $43,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Rapid7 in the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Robert W. Baird cut Rapid7 from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Scotiabank reduced their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus price target of $46.13.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $35.78 on Tuesday. The business’s 50 day moving average price is $36.94 and its 200-day moving average price is $40.93. The firm has a market capitalization of $2.23 billion, a PE ratio of -17.45 and a beta of 0.96. Rapid7, Inc. has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last released its earnings results 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 business had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. As a group, analysts expect that Rapid7, Inc. will post 0.8 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.