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

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) has received a consensus rating of "Hold" from the twenty-one brokerages that are covering the company, Marketbeat reports. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $41.22.

RPD has been the topic of several recent analyst reports. Scotiabank reduced their price objective on shares of Rapid7 from $42.00 to $38.00 and set a "sector perform" rating on the stock in a research note on Thursday. Barclays reduced their price objective on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Thursday. UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday. Citigroup cut their price target on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Raymond James cut their price target on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday.

Insider Buying and Selling

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares during the period. 1620 Investment Advisors Inc. increased its position in Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock worth $111,000 after acquiring an additional 352 shares during the period. Exchange Traded Concepts LLC increased its position in Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock worth $2,782,000 after acquiring an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock worth $46,000 after acquiring an additional 455 shares during the period. Finally, International Assets Investment Management LLC increased its position in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after acquiring an additional 661 shares during the period. 95.66% of the stock is owned by institutional investors.

Rapid7 Trading Up 2.1 %

Shares of NASDAQ:RPD traded up $0.73 during trading on Thursday, hitting $35.55. 1,545,758 shares of the company's stock were exchanged, compared to its average volume of 532,994. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.79. The firm has a 50-day moving average price of $39.23 and a two-hundred day moving average price of $38.81. The firm has a market cap of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. As a group, research analysts predict that Rapid7 will post 0.98 EPS for the current 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.