Needham & Company LLC Reiterates Hold Rating for Rapid7 (NASDAQ:RPD)

Rapid7 (NASDAQ:RPD)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

A number of other research firms have also recently issued reports on RPD. Jefferies Financial Group began coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus restated a “hold” rating and set a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler cut their target price 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. Finally, StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Sixteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.22.

Rapid7 Price Performance

Shares of RPD opened at $35.55 on Thursday. The firm has a 50-day moving average of $39.23 and a 200-day moving average of $38.82. Rapid7 has a one year low of $32.94 and a one year high of $61.79. The company has a market cap of $2.25 billion, a PE ratio of 56.43 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 analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Analysts expect that Rapid7 will post 0.98 earnings per share for the current year.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapid7

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Rapid7 during the 3rd quarter worth approximately $69,000. Finally, Ostrum Asset Management grew its holdings in Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

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.