Rapid7 (NASDAQ:RPD) Downgraded to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Rapid7 (NASDAQ:RPD - Free Report) from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities analysts have also recently commented on RPD. DA Davidson boosted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Barclays reduced their target price on Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Truist Financial decreased their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday. Finally, Robert W. Baird cut their target price on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday. Sixteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.22.

Rapid7 Stock Performance

NASDAQ RPD traded up $0.73 on Thursday, hitting $35.55. 1,545,758 shares of the stock traded hands, compared to its average volume of 532,994. The business's fifty day moving average is $39.23 and its two-hundred day moving average is $38.81. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.79. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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%. Analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now 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 is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rapid7 by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock valued at $346,721,000 after purchasing an additional 60,095 shares in the last quarter. JANA Partners Management LP lifted its position in Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock valued at $148,454,000 after buying an additional 34,589 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company's stock valued at $58,330,000 after buying an additional 15,287 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Rapid7 by 6.8% during the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after buying an additional 79,836 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rapid7 by 17.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock worth $36,993,000 after buying an additional 133,967 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.