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

Rapid7, Inc. (NASDAQ:RPD) has received an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the stock, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $39.05.

RPD has been the topic of a number of research reports. DA Davidson cut their target price on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Scotiabank cut their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Stephens began coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price objective for the company. Stifel Nicolaus dropped their target price on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st.

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated Tuesday, January 21st. The stock was 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 owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ grew its position in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the period. Versant Capital Management Inc boosted its stake in shares of Rapid7 by 5,311.1% in the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after buying an additional 1,434 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares during the period. Ostrum Asset Management raised its position in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after acquiring an additional 772 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after acquiring an additional 867 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $22.94 on Friday. Rapid7 has a 52-week low of $22.08 and a 52-week high of $50.55. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 58.82 and a beta of 0.99. The stock has a 50 day moving average price of $30.84 and a 200 day moving average price of $36.83.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Analysts forecast that Rapid7 will post 0.35 earnings per share 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.