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

Rapid7, Inc. (NASDAQ:RPD) has received an average rating of “Hold” from the twenty-two ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $19.5263.

RPD has been the subject of several analyst reports. Wall Street Zen lowered Rapid7 from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. JPMorgan Chase & Co. dropped their price objective on shares of Rapid7 from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Barclays cut shares of Rapid7 from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $18.00 to $15.00 in a research report on Monday, January 5th. Piper Sandler dropped their price target on shares of Rapid7 from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. Finally, Morgan Stanley reiterated an “outperform” rating and issued a $18.00 price target on shares of Rapid7 in a report on Thursday, December 18th.

Insider Transactions at Rapid7

In other news, Director Jana Partners Management, Lp purchased 41,545 shares of the stock in a transaction on Friday, November 28th. The stock was purchased at an average price of $15.71 per share, with a total value of $652,671.95. Following the completion of the transaction, the director owned 6,760,149 shares in the company, valued at approximately $106,201,940.79. The trade was a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Evan Brown acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $15.21 per share, for a total transaction of $45,630.00. Following the completion of the acquisition, the director owned 51,882 shares in the company, valued at approximately $789,125.22. This trade represents a 6.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 67,345 shares of company stock valued at $1,025,202 in the last ninety days. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Several institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new position in shares of Rapid7 in the 4th quarter valued at $40,000. CI Investments Inc. increased its holdings in Rapid7 by 48.4% in the 3rd quarter. CI Investments Inc. now owns 2,281 shares of the technology company’s stock valued at $43,000 after purchasing an additional 744 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Rapid7 in the third quarter valued at about $44,000. Headlands Technologies LLC purchased a new position in Rapid7 in the second quarter valued at about $44,000. Finally, KBC Group NV lifted its stake in shares of Rapid7 by 124.0% during the fourth quarter. KBC Group NV now owns 3,310 shares of the technology company’s stock worth $50,000 after purchasing an additional 1,832 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $11.80 on Thursday. The company has a 50-day simple moving average of $14.58 and a 200-day simple moving average of $17.45. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $772.66 million, a PE ratio of 34.71 and a beta of 0.79. Rapid7 has a 12 month low of $11.53 and a 12 month high of $39.39.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $217.96 million for the quarter, compared to analyst estimates of $216.14 million. Rapid7 had a net margin of 2.61% and a return on equity of 67.30%. Rapid7’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. On average, equities analysts anticipate that Rapid7 will post 0.35 earnings per share for the current year.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.