Rapid7 (NASDAQ:RPD) Downgraded to “Neutral” at Robert W. Baird

Robert W. Baird downgraded shares of Rapid7 (NASDAQ:RPD) from an outperform rating to a neutral rating in a report released on Thursday morning, MarketBeat reports. Robert W. Baird currently has $45.00 price objective on the technology company’s stock, down from their prior price objective of $56.00.

RPD has been the topic of a number of other research reports. UBS Group dropped their price objective on Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Piper Sandler dropped their price target on Rapid7 from $56.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Truist Financial dropped their target price on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group cut their price objective on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their price target on shares of Rapid7 from $63.00 to $51.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $49.00.

Rapid7 Stock Performance

NASDAQ RPD traded down $1.95 during trading on Thursday, reaching $33.33. The company’s stock had a trading volume of 1,336 shares, compared to its average volume of 908,357. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -17.21 and a beta of 0.98. Rapid7 has a twelve month low of $33.33 and a twelve month high of $61.88. The business’s fifty day moving average price is $38.87 and its 200-day moving average price is $46.24.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. As a group, sell-side analysts forecast that Rapid7 will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPD. Fidelis Capital Partners LLC acquired a new position in shares of Rapid7 in the 1st quarter valued at $36,000. Mather Group LLC. acquired a new position in shares of Rapid7 during the 1st quarter valued at about $42,000. International Assets Investment Management LLC increased its position in Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after purchasing an additional 943 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Rapid7 in the second quarter worth about $43,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Rapid7 in the 4th quarter valued at approximately $95,000. 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.