Rapid7, Inc. (NASDAQ:RPD) Given Consensus Recommendation of "Hold" by Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD - Get Free Report) have been given a consensus rating of "Hold" by the twenty brokerages that are covering the company, MarketBeat reports. Fifteen equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $43.71.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Rapid7 from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Citigroup lowered their target price on shares of Rapid7 from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday. DA Davidson increased their price target on Rapid7 from $35.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on Rapid7 in a research report on Wednesday, October 16th. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Piper Sandler cut their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th.

Rapid7 Price Performance

Shares of RPD traded down $0.95 during trading hours on Friday, hitting $38.84. The stock had a trading volume of 830,582 shares, compared to its average volume of 648,464. The firm has a market capitalization of $2.46 billion, a PE ratio of 61.65 and a beta of 0.96. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The stock has a fifty day moving average price of $40.71 and a 200 day moving average price of $39.09.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Rapid7 will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently made changes to their positions in RPD. Point72 Asset Management L.P. boosted its position in 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 valued at $164,236,000 after buying an additional 2,719,791 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company's stock valued at $58,330,000 after purchasing an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Rapid7 by 1.8% in the third 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 in the last quarter. Fred Alger Management LLC grew its stake in Rapid7 by 0.3% in the second quarter. Fred Alger Management LLC now owns 494,509 shares of the technology company's stock worth $21,378,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Thematics Asset Management increased its holdings in Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company's stock worth $15,916,000 after purchasing an additional 99,000 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

About Rapid7

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.