Rapid7 (NASDAQ:RPD) Lowered to “Neutral” at Robert W. Baird

Rapid7 (NASDAQ:RPD) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, Briefing.com reports. They presently have a $45.00 price target on the technology company’s stock, down from their previous price target of $56.00. Robert W. Baird’s price objective would suggest a potential upside of 14.39% from the stock’s previous close.

RPD has been the subject of a number of other reports. Stifel Nicolaus cut their price target on Rapid7 from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Truist Financial lowered their price objective on Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Friday, May 10th. Susquehanna lowered their price objective on Rapid7 from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Finally, Piper Sandler lowered their price objective on Rapid7 from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and an average target price of $50.40.

Rapid7 Price Performance

RPD opened at $39.34 on Thursday. Rapid7 has a fifty-two week low of $35.08 and a fifty-two week high of $61.88. The business has a 50-day moving average of $38.95 and a 200-day moving average of $46.61. The company has a market capitalization of $2.45 billion, a PE ratio of -19.19 and a beta of 0.98.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $204.10 million. On average, equities research analysts expect that Rapid7 will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Rapid7

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its holdings in shares of Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after purchasing an additional 1,124,429 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Rapid7 by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after buying an additional 160,531 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rapid7 by 46.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after buying an additional 397,968 shares during the period. Norges Bank bought a new position in shares of Rapid7 during the 4th quarter worth approximately $37,790,000. Finally, Federated Hermes Inc. lifted its position in shares of Rapid7 by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 509,404 shares of the technology company’s stock worth $29,087,000 after buying an additional 9,404 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.