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

Shares of Rapid7, Inc. (NASDAQ:RPD) have earned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $56.20.

Several brokerages have issued reports on RPD. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. JPMorgan Chase & Co. cut their price objective on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th. Finally, Barclays lifted their target price on Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Vanguard Group Inc. lifted its holdings in shares of Rapid7 by 2.2% in the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after purchasing an additional 148,440 shares in the last quarter. First Trust Advisors LP raised its holdings in Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Rapid7 by 11.0% during the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock worth $273,076,000 after acquiring an additional 243,040 shares in the last quarter. Capital Research Global Investors raised its holdings in Rapid7 by 5.8% during the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock worth $178,409,000 after acquiring an additional 87,700 shares in the last quarter. Finally, Hawk Ridge Capital Management LP raised its holdings in Rapid7 by 757.7% during the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after acquiring an additional 1,406,619 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Trading Up 0.8 %

Shares of RPD opened at $44.15 on Friday. The stock has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $53.05. Rapid7 has a 1 year low of $39.49 and a 1 year high of $61.88. The stock has a market cap of $2.74 billion, a PE ratio of -17.59 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. On average, sell-side analysts forecast that Rapid7 will post 0.86 EPS for the current fiscal 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.