Rapid7, Inc. (NASDAQ:RPD) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD - Get Free Report) have earned a consensus rating of "Hold" from the twenty brokerages that are presently covering the firm, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $44.59.

Several research firms have issued reports on RPD. Jefferies Financial Group began coverage on Rapid7 in a report on Wednesday, October 16th. They set a "buy" rating and a $50.00 price objective on the stock. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Piper Sandler decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada cut Rapid7 from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $50.00 to $40.00 in a research report on Friday, September 20th.

Rapid7 Stock Up 0.7 %

NASDAQ:RPD traded up $0.28 during trading hours on Wednesday, reaching $39.81. 244,884 shares of the company's stock were exchanged, compared to its average volume of 841,955. The company has a market capitalization of $2.52 billion, a P/E ratio of 63.19 and a beta of 0.95. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The business's 50-day simple moving average is $40.85 and its two-hundred day simple moving average is $39.01.

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

Insider Buying and Selling

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares of the company's stock, valued at $698,400. This represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Rapid7 by 9.7% during the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company's stock worth $1,901,000 after purchasing an additional 4,214 shares during the last quarter. 272 Capital LP increased its position in Rapid7 by 33.4% in the 3rd quarter. 272 Capital LP now owns 215,287 shares of the technology company's stock worth $8,588,000 after buying an additional 53,849 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rapid7 by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company's stock worth $58,330,000 after buying an additional 15,287 shares during the last quarter. Pier Capital LLC lifted its holdings in shares of Rapid7 by 1.2% during the third quarter. Pier Capital LLC now owns 180,168 shares of the technology company's stock worth $7,187,000 after buying an additional 2,162 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Rapid7 in the third quarter valued at approximately $782,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.