Stifel Nicolaus Reiterates Hold Rating for Rapid7 (NASDAQ:RPD)

Stifel Nicolaus reiterated their hold rating on shares of Rapid7 (NASDAQ:RPD) in a research note published on Friday morning, MarketBeat reports. Stifel Nicolaus currently has a $42.00 price objective on the technology company’s stock, down from their previous price objective of $48.00.

A number of other equities research analysts have also issued reports on the stock. DA Davidson boosted 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. Truist Financial cut their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. UBS Group reduced their target price on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average target price of $43.71.

Rapid7 Price Performance

RPD opened at $38.84 on Friday. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 61.65 and a beta of 0.96. The business has a 50 day moving average price of $40.71 and a two-hundred day moving average price of $39.07.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $214.65 million during the quarter, compared to analyst estimates of $210.04 million. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Rapid7 during the 2nd quarter worth about $35,000. Hsbc Holdings PLC grew its stake in Rapid7 by 227.2% during the second quarter. Hsbc Holdings PLC now owns 34,580 shares of the technology company’s stock worth $1,518,000 after purchasing an additional 24,012 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Rapid7 by 10.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in Rapid7 in the second quarter valued at approximately $348,000. Finally, P Schoenfeld Asset Management LP bought a new position in shares of Rapid7 during the 2nd quarter worth approximately $4,323,000. Institutional investors and hedge funds 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.