Rapid7, Inc. (NASDAQ:RPD) Given Consensus Rating of “Hold” by Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD) have received an average recommendation of “Hold” from the twenty research firms that are currently covering the stock, Marketbeat.com reports. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $43.76.

A number of research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Scotiabank raised their target price on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday. Citigroup decreased their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a report on Friday, January 17th. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Piper Sandler decreased their target price 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.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV boosted its position in shares of Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after buying an additional 446 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Rapid7 by 126.6% in the 4th quarter. SG Americas Securities LLC now owns 9,908 shares of the technology company’s stock valued at $399,000 after buying an additional 5,536 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Rapid7 by 106.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 49,155 shares of the technology company’s stock valued at $1,978,000 after buying an additional 25,398 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Price Performance

Shares of RPD stock opened at $38.90 on Friday. The business has a fifty day moving average of $40.54 and a 200 day moving average of $39.03. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 61.75 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, November 6th. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm had revenue of $214.65 million during the quarter, compared to the consensus estimate of $210.04 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Rapid7 will post 0.98 earnings per share for the current year.

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.