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

Rapid7, Inc. (NASDAQ:RPD – Get Rating) has been given a consensus rating of “Hold” by the twenty-one ratings firms that are currently covering the stock, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $56.38.

A number of research analysts have recently commented on RPD shares. Raymond James increased their target price on Rapid7 from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. initiated coverage on Rapid7 in a research report on Tuesday, January 24th. They set a “neutral” rating and a $38.00 target price for the company. Morgan Stanley raised their price target on Rapid7 from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. Robert W. Baird lowered their price target on Rapid7 from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 9th. Finally, Canaccord Genuity Group downgraded Rapid7 from a “buy” rating to a “hold” rating and lowered their price target for the stock from $55.00 to $52.00 in a research report on Thursday, February 9th.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. HighTower Advisors LLC increased its stake in shares of Rapid7 by 9.1% during the first quarter. HighTower Advisors LLC now owns 2,354 shares of the technology company’s stock valued at $261,000 after buying an additional 196 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Rapid7 by 30.2% during the first quarter. PNC Financial Services Group Inc. now owns 5,529 shares of the technology company’s stock valued at $615,000 after buying an additional 1,281 shares during the period. MetLife Investment Management LLC increased its stake in shares of Rapid7 by 53.8% during the first quarter. MetLife Investment Management LLC now owns 29,914 shares of the technology company’s stock valued at $3,328,000 after buying an additional 10,460 shares during the period. Rhumbline Advisers increased its stake in shares of Rapid7 by 3.8% during the first quarter. Rhumbline Advisers now owns 59,263 shares of the technology company’s stock valued at $6,592,000 after buying an additional 2,152 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in shares of Rapid7 during the first quarter valued at $1,631,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Rapid7 Price Performance

Shares of RPD opened at $40.84 on Thursday. Rapid7 has a 1 year low of $26.49 and a 1 year high of $118.25. The company has a 50 day simple moving average of $43.14 and a two-hundred day simple moving average of $41.05. The firm has a market cap of $2.45 billion, a P/E ratio of -19.08 and a beta of 1.13.

Rapid7 (NASDAQ:RPD – Get Rating) last posted its earnings results on Wednesday, February 8th. The technology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. The firm had revenue of $184.48 million for the quarter, compared to the consensus estimate of $179.33 million. On average, sell-side analysts anticipate that Rapid7 will post -1.17 earnings per share for the current year.

Rapid7 Company Profile

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Rapid7, Inc engages in the provision of cyber security analytics and automation services. Its products include Metasploit, Nexpose, AppSpider, tCell by Rapid7, as well as insight platforms such as InsightDR, InsightIVM, InsightAppSec, InsightConnect, and InsightOps. The firm also offers security and product consulting services.