Needham & Company LLC Reaffirms Hold Rating for Rapid7 (NASDAQ:RPD)

Rapid7 (NASDAQ:RPD)‘s stock had its “hold” rating restated by Needham & Company LLC in a report issued on Friday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group lowered their price target on Rapid7 from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Wednesday. UBS Group decreased their target price on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird cut their price target on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup decreased their price objective on shares of Rapid7 from $65.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Rapid7 from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Rapid7 currently has an average rating of “Hold” and an average target price of $52.13.

Rapid7 Stock Down 0.2 %

Rapid7 stock opened at $37.94 on Friday. Rapid7 has a 12 month low of $35.22 and a 12 month high of $61.88. The stock has a market cap of $2.36 billion, a P/E ratio of -15.12 and a beta of 1.01. The company’s fifty day simple moving average is $48.62 and its 200-day simple moving average is $52.60.

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

Insider Buying and Selling

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Andrew F. Burton sold 31,727 shares of the business’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 sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Rapid7

Several institutional investors have recently made changes to their positions in the business. Arizona State Retirement System raised its holdings in shares of Rapid7 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after purchasing an additional 320 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares during the period. Natixis Advisors L.P. lifted its position in shares of Rapid7 by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock valued at $996,000 after buying an additional 344 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Rapid7 by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock worth $2,259,000 after acquiring an additional 502 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in shares of Rapid7 by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock worth $1,289,000 after acquiring an additional 668 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.