Rapid7’s (RPD) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Several other analysts have also weighed in on the company. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Truist Financial reduced their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. UBS Group lowered their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. DA Davidson upped their price target on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Sixteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Stock Down 5.4 %

Shares of NASDAQ:RPD opened at $34.82 on Thursday. The firm has a fifty day simple moving average of $39.39 and a two-hundred day simple moving average of $38.84. The stock has a market capitalization of $2.20 billion, a P/E ratio of 55.27 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. On average, analysts expect that Rapid7 will post 0.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

Institutional Trading of Rapid7

Several hedge funds and other institutional investors have recently bought and sold shares of RPD. Vanguard Group Inc. raised its position in shares of Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after acquiring an additional 60,095 shares in the last quarter. Geode Capital Management LLC grew its stake in Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares during the last quarter. Legal & General Group Plc raised its holdings in Rapid7 by 0.9% in the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after purchasing an additional 6,269 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rapid7 by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock worth $20,920,000 after purchasing an additional 8,918 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after buying an additional 280,913 shares during the last quarter. Institutional investors 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.