Rapid7 (NASDAQ:RPD) Given “Hold” Rating at Stifel Nicolaus

Stifel Nicolaus restated their hold rating on shares of Rapid7 (NASDAQ:RPD) in a research report sent to investors on Friday, MarketBeat reports. The firm currently has a $42.00 price target on the technology company’s stock, down from their prior price target of $48.00.

A number of other equities analysts also recently issued reports on RPD. DA Davidson increased their price objective on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler decreased their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Finally, Truist Financial lowered their target price on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.71.

Rapid7 Stock Performance

Shares of RPD stock opened at $38.84 on Friday. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The firm has a market cap of $2.46 billion, a P/E ratio of 61.65 and a beta of 0.96. The business’s 50 day moving average price is $40.71 and its 200-day moving average price is $39.12.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. As a group, equities analysts predict that Rapid7 will post 0.98 EPS for the current year.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its stake in shares of Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock worth $164,236,000 after buying an additional 2,719,791 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Rapid7 during the 3rd quarter valued at about $6,647,000. 272 Capital LP purchased a new position in shares of Rapid7 in the second quarter worth approximately $6,979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Rapid7 during the second quarter valued at approximately $6,106,000. 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.