Rapid7 (NASDAQ:RPD) Rating Reiterated by Needham & Company LLC

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

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Scotiabank assumed coverage on shares of Rapid7 in a research note on Friday, April 26th. They issued a “sector perform” rating and a $46.00 target price for the company. Truist Financial lowered their price target on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. Piper Sandler reduced their price objective on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays dropped their target price on Rapid7 from $60.00 to $49.00 and set an “equal weight” 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.13.

Rapid7 Stock Performance

Shares of RPD stock opened at $37.94 on Friday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01. Rapid7 has a 52 week low of $35.22 and a 52 week high of $61.88. The firm’s 50-day simple moving average is $48.62 and its two-hundred day simple moving average is $52.60.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

Insider Transactions at Rapid7

In other 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 transaction, the chief operating officer now 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 Securities & Exchange Commission, which is available through this link. In other news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently added to or reduced their stakes in RPD. Hawk Ridge Capital Management LP lifted its position in Rapid7 by 757.7% in the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after purchasing an additional 1,406,619 shares during the last quarter. First Trust Advisors LP raised its holdings in Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after buying an additional 1,124,429 shares during the last quarter. Norges Bank purchased a new stake in Rapid7 during the 4th quarter valued at $37,790,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $61,512,000 after buying an additional 397,968 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Rapid7 by 40.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after acquiring an additional 355,192 shares during the last quarter. Hedge funds and other institutional investors 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.