Rapid7, Inc. (NASDAQ:RPD) Receives Consensus Rating of “Hold” from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $44.59.

A number of analysts recently issued reports on RPD shares. UBS Group cut their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Truist Financial dropped their price target 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. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Piper Sandler dropped their target price 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. Finally, DA Davidson upped their price target on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Rapid7 Price Performance

Rapid7 stock opened at $40.19 on Wednesday. The firm has a 50 day simple moving average of $40.86 and a 200-day simple moving average of $39.04. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 63.79 and a beta of 0.95. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88.

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

Institutional Trading of Rapid7

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Rapid7 during the second quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the third quarter valued at $69,000. Point72 Hong Kong Ltd raised its stake in Rapid7 by 315.0% in the second quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock valued at $90,000 after buying an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its stake in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares in the last quarter. 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.