Brokerages Set Rapid7, Inc. (NASDAQ:RPD) PT at $45.44

Shares of Rapid7, Inc. (NASDAQ:RPD) have been given an average rating of “Hold” by the twenty ratings firms that are covering the company, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.59.

A number of analysts recently weighed in on the stock. DA Davidson upped their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Baird R W lowered shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Piper Sandler cut their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $45.00 in a research report on Thursday, August 1st.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. increased its position in shares of Rapid7 by 252.0% during 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 purchasing an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 during the second quarter worth approximately $15,130,000. SG Americas Securities LLC lifted its stake in Rapid7 by 7,688.6% in 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 last quarter. 272 Capital LP acquired a new stake in Rapid7 during the 2nd quarter worth $6,979,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Rapid7 during the second quarter worth about $6,106,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Price Performance

Shares of RPD stock opened at $41.28 on Tuesday. The company has a market cap of $2.59 billion, a PE ratio of -49.14 and a beta of 0.96. The stock’s 50 day simple moving average is $37.97 and its two-hundred day simple moving average is $38.79. Rapid7 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 (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during 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 quarter last year, the business earned ($0.33) EPS. Equities research analysts expect that Rapid7 will post 0.8 EPS for the current year.

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.