Rapid7's (RPD) "Hold" Rating Reiterated at Needham & Company LLC

Rapid7 (NASDAQ:RPD - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

RPD has been the topic of several other research reports. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. DA Davidson boosted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Scotiabank lifted their price target on Rapid7 from $39.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group initiated coverage on Rapid7 in a report on Wednesday, October 16th. They issued a "buy" rating and a $50.00 price objective on the stock. Sixteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $41.22.

Rapid7 Trading Up 2.1 %

Shares of RPD traded up $0.73 during midday trading on Thursday, hitting $35.55. 1,545,758 shares of the company's stock traded hands, compared to its average volume of 532,994. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The firm's fifty day moving average is $39.23 and its 200-day moving average is $38.81.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results 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 net margin of 5.65% and a negative return on equity of 128.95%. On average, equities research analysts anticipate that Rapid7 will post 0.98 EPS for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the business's 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 sale, the chief executive officer now owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its stake in Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock valued at $3,030,000 after purchasing an additional 37,708 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Rapid7 during the third quarter worth $948,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Rapid7 by 36.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company's stock valued at $3,429,000 after buying an additional 22,734 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Rapid7 in the third quarter worth about $1,006,000. Finally, Maverick Capital Ltd. acquired a new position in Rapid7 during the third quarter worth about $1,679,000. 95.66% of the stock is owned by hedge funds and other 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.