Rapid7 (NASDAQ:RPD) Cut to Hold at StockNews.com

StockNews.com lowered shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Piper Sandler cut their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Scotiabank dropped their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Baird R W lowered Rapid7 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Fifteen 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, the company presently has an average rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $42.33 on Tuesday. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a market cap of $2.68 billion, a PE ratio of 67.19 and a beta of 0.96. The firm has a 50 day simple moving average of $38.83 and a 200 day simple moving average of $38.44.

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

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 17.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in shares of Rapid7 by 252.0% in 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. Geode Capital Management LLC raised its stake in shares of Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after purchasing an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rapid7 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock worth $20,387,000 after purchasing an additional 9,190 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rapid7 by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after acquiring an additional 18,907 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in Rapid7 by 0.3% in the 2nd quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company’s stock worth $21,378,000 after buying an additional 1,297 shares during the period. 95.66% of the stock is owned by institutional investors.

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.