Stifel Nicolaus Reaffirms Hold Rating for Rapid7 (NASDAQ:RPD)

Rapid7 (NASDAQ:RPD - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Stifel Nicolaus in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $42.00 price objective on the technology company's stock, down from their previous price objective of $48.00. Stifel Nicolaus' price target would suggest a potential upside of 8.14% from the company's current price.

A number of other brokerages have also issued reports on RPD. DA Davidson boosted their target price on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. UBS Group decreased their target price on Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada cut Rapid7 from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $50.00 to $40.00 in a report on Friday, September 20th. Jefferies Financial Group began coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They set a "buy" rating and a $50.00 price target on the stock. Finally, StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has an average rating of "Hold" and an average price target of $43.71.

Rapid7 Trading Down 2.4 %

RPD stock traded down $0.95 during midday trading on Friday, hitting $38.84. 830,582 shares of the company's stock were exchanged, compared to its average volume of 535,310. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The business has a 50-day simple moving average of $40.75 and a two-hundred day simple moving average of $39.15. The stock has a market capitalization of $2.46 billion, a PE ratio of 61.65 and a beta of 0.96.

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 the consensus estimate of $0.52 by $0.14. The firm had revenue of $214.65 million for the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Rapid7's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Algert Global LLC boosted its holdings in Rapid7 by 158.6% in the second quarter. Algert Global LLC now owns 121,953 shares of the technology company's stock valued at $5,272,000 after purchasing an additional 74,793 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Rapid7 by 100.8% during the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock worth $3,030,000 after buying an additional 37,708 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Rapid7 in the 3rd quarter valued at $948,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Rapid7 by 36.0% in the 3rd 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 in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of 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 last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.