Rapid7 (NASDAQ:RPD) Receives “Hold” Rating from Needham & Company LLC

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

A number of other equities research analysts have also weighed in on the stock. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Citigroup dropped their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Piper Sandler reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial dropped their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird reduced their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday. Sixteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus price target of $41.22.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $34.82 on Thursday. The business’s 50-day moving average is $39.39 and its 200 day moving average is $38.84. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The firm has a market capitalization of $2.20 billion, a P/E ratio of 55.27 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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 net margin of 5.65% and a negative return on equity of 128.95%. On average, analysts expect that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Rapid7

A number of institutional investors have recently added to or reduced their stakes in RPD. CANADA LIFE ASSURANCE Co raised its position in Rapid7 by 7.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 305,357 shares of the technology company’s stock worth $12,284,000 after acquiring an additional 22,043 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Rapid7 by 31.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 89,300 shares of the technology company’s stock worth $3,593,000 after purchasing an additional 21,500 shares in the last quarter. Marshall Wace LLP increased its stake 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 worth $19,137,000 after purchasing an additional 280,913 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Rapid7 by 22.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 128,797 shares of the technology company’s stock worth $5,182,000 after purchasing an additional 24,000 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in Rapid7 in the 4th quarter valued at about $739,000. 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.