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-two ratings firms that are currently covering the firm, MarketBeat.com reports. Fifteen research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.05.

RPD has been the topic of several research reports. Citigroup dropped their price objective on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley started coverage on shares of Rapid7 in a research note on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 price target on the stock. DA Davidson reduced their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Robert W. Baird cut their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th.

Rapid7 Trading Down 6.8 %

Shares of RPD stock opened at $25.58 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 65.59 and a beta of 0.99. Rapid7 has a 1-year low of $25.48 and a 1-year high of $50.55. The stock’s fifty day simple moving average is $32.09 and its 200-day simple moving average is $37.13.

Rapid7 (NASDAQ:RPD) last released 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 net margin of 3.46% and a negative return on equity of 130.41%. On average, sell-side analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Shapiro Capital Management LLC boosted its holdings in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after purchasing an additional 964,899 shares during the period. Estuary Capital Management LP bought a new stake in shares of Rapid7 in the fourth quarter valued at about $20,714,000. Dendur Capital LP acquired a new stake in Rapid7 during the fourth quarter worth about $19,190,000. Raymond James Financial Inc. bought a new position in Rapid7 during the fourth quarter valued at about $12,050,000. Finally, Marshall Wace LLP increased its position in shares of Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after purchasing an additional 280,913 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.