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

Rapid7, Inc. (NASDAQ:RPD) has received an average rating of “Hold” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $33.32.

Several research analysts recently weighed in on the company. DA Davidson reiterated an “underperform” rating and set a $21.00 price target (down from $29.00) on shares of Rapid7 in a research report on Tuesday, May 13th. Jefferies Financial Group reduced their price target on Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Piper Sandler reduced their price target on Rapid7 from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Robert W. Baird lifted their price target on Rapid7 from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Finally, Stephens initiated coverage on Rapid7 in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $33.00 price target for the company.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the transaction, the insider now owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

Large investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in shares of Rapid7 in the 4th quarter valued at $539,000. Raymond James Financial Inc. acquired a new position in shares of Rapid7 in the 4th quarter valued at $12,050,000. Principal Financial Group Inc. lifted its stake in shares of Rapid7 by 13.9% in the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 6,645 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Rapid7 by 5.4% in the 4th quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock valued at $1,468,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rapid7 by 17.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company’s stock valued at $358,000 after purchasing an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Stock Down 0.2%

Shares of NASDAQ:RPD opened at $22.96 on Friday. Rapid7 has a 52-week low of $21.61 and a 52-week high of $44.48. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 58.87 and a beta of 1.06. The business has a 50-day moving average price of $24.73 and a 200-day moving average price of $33.24.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The company had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Rapid7’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. As a group, equities analysts anticipate that Rapid7 will post 0.35 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.