Rapid7, Inc. (NASDAQ:RPD) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Rapid7, Inc. has received an average rating of "Hold" from 19 research firms, with a consensus 1-year price target of approximately $32.28.
• Recent changes in price targets include JPMorgan reducing their estimate from $28.00 to $23.00 and Barclays from $26.00 to $25.00, indicating cautious sentiment among analysts.
• After reporting earnings of $0.49 per share, Rapid7 surpassed analysts' expectations, demonstrating a 2.5% year-over-year revenue growth.

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) has been given an average rating of "Hold" by the nineteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $32.2778.

A number of equities research analysts have weighed in on RPD shares. JPMorgan Chase & Co. cut their target price on Rapid7 from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Monday. Stifel Nicolaus reduced their price objective on shares of Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Sunday. Barclays decreased their price target on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Finally, Susquehanna dropped their price objective on shares of Rapid7 from $40.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently bought and sold shares of RPD. Invesco Ltd. increased its stake in shares of Rapid7 by 5.4% in the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company's stock worth $1,468,000 after purchasing an additional 1,860 shares during the period. Legal & General Group Plc grew its holdings in Rapid7 by 0.9% in the 4th quarter. Legal & General Group Plc now owns 707,556 shares of the technology company's stock valued at $28,465,000 after buying an additional 6,269 shares during the last quarter. Bank of Nova Scotia increased its position in Rapid7 by 8.0% in the 4th quarter. Bank of Nova Scotia now owns 129,150 shares of the technology company's stock worth $5,196,000 after buying an additional 9,570 shares during the period. CenterBook Partners LP bought a new position in Rapid7 in the 4th quarter worth approximately $739,000. Finally, Quinn Opportunity Partners LLC lifted its holdings in shares of Rapid7 by 22.9% during the fourth quarter. Quinn Opportunity Partners LLC now owns 128,797 shares of the technology company's stock worth $5,182,000 after buying an additional 24,000 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Stock Down 0.9%

RPD opened at $19.99 on Thursday. The stock's 50 day moving average price is $23.04 and its 200 day moving average price is $26.77. The company has a debt-to-equity ratio of 16.87, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $1.28 billion, a P/E ratio of 51.26 and a beta of 0.96. Rapid7 has a 12 month low of $19.92 and a 12 month high of $44.48.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The business had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a net margin of 3.42% and a return on equity of 2,043.18%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, research analysts predict that Rapid7 will post 0.35 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.

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