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

Rapid7, Inc. (NASDAQ:RPD) has been assigned an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $56.20.

A number of equities analysts recently commented on RPD shares. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Barclays upped their price target on Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $53.00 to $70.00 in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th.

Rapid7 Stock Performance

Rapid7 stock opened at $49.04 on Monday. The company has a 50 day moving average price of $55.12 and a 200-day moving average price of $52.95. Rapid7 has a fifty-two week low of $39.49 and a fifty-two week high of $61.88. The company has a market capitalization of $3.04 billion, a PE ratio of -19.54 and a beta of 1.03.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. On average, analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Andrew F. Burton sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.68, for a total transaction of $912,560.00. Following the completion of the transaction, the chief operating officer now owns 224,038 shares of the company’s stock, valued at $12,026,359.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Rapid7 by 2.2% during the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after buying an additional 148,440 shares during the period. First Trust Advisors LP grew its stake in Rapid7 by 49.2% during the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Rapid7 by 11.0% in the first quarter. Wasatch Advisors Inc. now owns 2,454,833 shares of the technology company’s stock valued at $273,076,000 after purchasing an additional 243,040 shares during the period. Capital Research Global Investors boosted its stake in shares of Rapid7 by 5.8% in the first quarter. Capital Research Global Investors now owns 1,603,819 shares of the technology company’s stock valued at $178,409,000 after purchasing an additional 87,700 shares during the period. Finally, Hawk Ridge Capital Management LP boosted its stake in shares of Rapid7 by 757.7% in the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after purchasing an additional 1,406,619 shares during the period. Institutional investors and hedge funds 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.