Rapid7 (NASDAQ:RPD) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Rapid7 (NASDAQ:RPD) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts also recently issued reports on RPD. Robert W. Baird cut their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial cut their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday. Jefferies Financial Group lowered their target price on Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday. Sixteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Trading Down 5.4 %

Shares of RPD stock opened at $34.82 on Thursday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.79. The stock’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $38.84.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. On average, sell-side analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling 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 stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Rapid7 during the fourth quarter worth approximately $12,050,000. Marshall Wace LLP increased its position in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after acquiring an additional 280,913 shares during the period. Harbor Capital Advisors Inc. raised its stake in Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Invenomic Capital Management LP bought a new stake in Rapid7 in the 3rd quarter valued at $6,647,000. Finally, Birnam Oak Advisors LP bought a new stake in Rapid7 in the 4th quarter valued at $4,425,000. Institutional investors and hedge funds 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.