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

Rapid7, Inc. (NASDAQ:RPD) has earned a consensus recommendation of “Hold” from the twenty research firms that are covering the firm, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $44.59.

RPD has been the topic of several recent research reports. UBS Group lowered their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th.

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several large investors have recently bought and sold shares of RPD. Point72 Asset Management L.P. boosted its position in shares of Rapid7 by 252.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after acquiring an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 in the second quarter valued at approximately $15,130,000. Invenomic Capital Management LP purchased a new position in Rapid7 in the third quarter valued at approximately $6,647,000. 272 Capital LP purchased a new position in Rapid7 in the second quarter valued at approximately $6,979,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Rapid7 during the 2nd quarter worth approximately $6,106,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Up 0.7 %

Shares of NASDAQ RPD opened at $39.81 on Wednesday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 63.19 and a beta of 0.95. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm has a 50-day simple moving average of $40.86 and a 200-day simple moving average of $39.00.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The business had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same period in the previous year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Rapid7 will post 0.98 EPS 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.