Rhumbline Advisers Raises Stock Holdings in Rapid7, Inc. (NASDAQ:RPD)

Rhumbline Advisers lifted its position in Rapid7, Inc. (NASDAQ:RPD) by 4.9% in the second quarter, HoldingsChannel.com reports. The firm owned 90,430 shares of the technology company’s stock after purchasing an additional 4,221 shares during the quarter. Rhumbline Advisers’ holdings in Rapid7 were worth $3,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new position in Rapid7 in the 1st quarter worth approximately $36,000. Mather Group LLC. bought a new position in Rapid7 during the first quarter valued at approximately $42,000. Summit Securities Group LLC bought a new stake in Rapid7 in the 2nd quarter worth approximately $43,000. Financial Connections Group Inc. purchased a new stake in Rapid7 during the second quarter valued at $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Rapid7 during the first quarter valued at $83,000. 95.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on RPD. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Rapid7 in a research note on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research note on Wednesday, July 10th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.75.

Rapid7 Stock Performance

Rapid7 stock opened at $34.56 on Tuesday. The company has a market capitalization of $2.17 billion, a PE ratio of -16.86 and a beta of 0.96. The company has a 50 day moving average price of $37.59 and a 200-day moving average price of $41.86. Rapid7, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts forecast that Rapid7, Inc. will post 0.8 earnings per share for the current year.

Rapid7 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.