Rapid7, Inc. $RPD Position Trimmed by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Rapid7 holdings by 92.1% in the first quarter, selling 2.82 million shares and retaining 241,291 shares worth approximately $1.33 million. Institutional investors collectively own 95.66% of the company.
• Analyst sentiment remains cautious: Rapid7 has a consensus rating of “Reduce”, based on one Buy, 18 Hold, and four Sell ratings, with an average price target of $11.98.
• Rapid7’s latest quarterly results exceeded expectations, with EPS of $0.44 versus the $0.35 consensus and revenue of $210.88 million versus estimates of $208.23 million; however, revenue declined 1.5% year over year.

Royal Bank of Canada trimmed its holdings in shares of Rapid7, Inc. (NASDAQ:RPD - Free Report) by 92.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,291 shares of the technology company's stock after selling 2,823,771 shares during the period. Royal Bank of Canada owned 0.36% of Rapid7 worth $1,330,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Prudential Financial Inc. boosted its holdings in shares of Rapid7 by 8.8% in the 2nd quarter. Prudential Financial Inc. now owns 8,513 shares of the technology company's stock valued at $197,000 after buying an additional 690 shares during the period. Parallel Advisors LLC raised its stake in Rapid7 by 81.6% during the fourth quarter. Parallel Advisors LLC now owns 3,036 shares of the technology company's stock worth $46,000 after acquiring an additional 1,364 shares during the period. KBC Group NV raised its stake in Rapid7 by 124.0% during the fourth quarter. KBC Group NV now owns 3,310 shares of the technology company's stock worth $50,000 after acquiring an additional 1,832 shares during the period. Headlands Technologies LLC bought a new position in Rapid7 in the second quarter worth about $44,000. Finally, Swiss National Bank lifted its holdings in Rapid7 by 1.8% in the third quarter. Swiss National Bank now owns 112,000 shares of the technology company's stock worth $2,100,000 after acquiring an additional 2,000 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RPD. William Blair lowered Rapid7 from an "outperform" rating to a "market perform" rating in a report on Tuesday, April 28th. Wall Street Zen upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Raymond James Financial restated an "outperform" rating and set a $15.00 price objective on shares of Rapid7 in a research note on Tuesday, August 11th. Robert W. Baird increased their target price on Rapid7 from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus increased their target price on Rapid7 from $7.00 to $13.00 and gave the stock a "hold" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $11.98.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $11.85 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.50. The stock has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $7.96. The company has a market cap of $798.69 million, a PE ratio of 38.23 and a beta of 0.97. Rapid7, Inc. has a 12-month low of $4.97 and a 12-month high of $21.27.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. Rapid7 had a return on equity of 27.89% and a net margin of 2.35%.The business had revenue of $210.88 million during the quarter, compared to analyst estimates of $208.23 million. During the same period in the prior year, the company posted $0.58 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Rapid7 has set its Q3 2026 guidance at 0.440-0.470 EPS. On average, equities research analysts forecast that Rapid7, Inc. will post 0.65 EPS for the current year.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7's offering is its Insight platform, a unified, cloud-native security operations and analytics suite.

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