Rapid7’s (RPD) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Rapid7 (NASDAQ:RPD) in a report published on Thursday,Benzinga reports.

Other equities analysts have also issued reports about the stock. DA Davidson lifted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Piper Sandler cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Stock Performance

NASDAQ RPD opened at $35.55 on Thursday. The firm’s fifty day moving average is $39.23 and its two-hundred day moving average is $38.81. Rapid7 has a one year low of $32.94 and a one year high of $61.79. The firm has a market cap of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) 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%. Research analysts predict that Rapid7 will post 0.98 earnings per share for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently made changes to their positions in RPD. International Assets Investment Management LLC lifted its holdings in Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Rapid7 during the third quarter worth approximately $69,000. Finally, Ostrum Asset Management grew its stake in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

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.