Rapid7 (NASDAQ:RPD) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Rapid7 (NASDAQ:RPD) in a research note published on Thursday morning,Benzinga reports.

Several other research firms have also weighed in on RPD. Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Truist Financial decreased their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Citigroup cut their target price on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 price target (down from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Finally, Scotiabank increased their price target on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Sixteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.22.

Rapid7 Stock Performance

Rapid7 stock opened at $35.55 on Thursday. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The firm has a 50 day moving average price of $39.23 and a 200 day moving average price of $38.81. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Sell-side analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, 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 link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Dendur Capital LP acquired a new stake in Rapid7 during the fourth quarter worth about $19,190,000. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 during the 4th quarter worth approximately $12,050,000. Marshall Wace LLP lifted its holdings in shares of Rapid7 by 144.2% in the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after purchasing an additional 280,913 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the period. Finally, Invenomic Capital Management LP acquired a new stake in Rapid7 in the third quarter worth $6,647,000. 95.66% of the stock is currently owned by institutional investors.

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.