Rapid7, Inc. (NASDAQ:RPD) Receives Consensus Rating of “Hold” from Brokerages

Rapid7, Inc. (NASDAQ:RPD) has earned an average rating of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $46.13.

A number of analysts recently commented on RPD shares. JPMorgan Chase & Co. decreased their target price on Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Scotiabank lowered their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Morgan Stanley restated an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a report on Wednesday, July 10th. Finally, UBS Group dropped their price objective on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Rapid7 during the 2nd quarter valued at $35,000. Fidelis Capital Partners LLC bought a new stake in shares of Rapid7 in the first quarter valued at approximately $36,000. Mather Group LLC. bought a new stake in shares of Rapid7 in the first quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new position in Rapid7 in the 2nd quarter valued at approximately $43,000. Finally, Financial Connections Group Inc. purchased a new position in Rapid7 in the 2nd quarter valued at approximately $72,000. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Performance

Shares of RPD stock opened at $35.20 on Monday. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The stock has a 50 day simple moving average of $37.13 and a two-hundred day simple moving average of $41.42. The company has a market cap of $2.21 billion, a P/E ratio of -17.17 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $204.04 million. During the same quarter in the previous year, the company earned ($0.33) EPS. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts predict that Rapid7 will post 0.8 earnings per share for the current year.

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.