Rapid7 (NASDAQ:RPD) Downgraded by Wall Street Zen to Hold

Rapid7 (NASDAQ:RPD - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Friday.

Several other brokerages also recently issued reports on RPD. Susquehanna cut their price objective on Rapid7 from $40.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Stifel Nicolaus dropped their price target on Rapid7 from $38.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Royal Bank Of Canada restated a "sector perform" rating on shares of Rapid7 in a research report on Tuesday, May 13th. Scotiabank dropped their price objective on Rapid7 from $38.00 to $29.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group cut their target price on shares of Rapid7 from $43.00 to $39.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.32.

Rapid7 Price Performance

RPD traded down $0.44 during trading on Friday, reaching $22.70. 1,400,764 shares of the stock were exchanged, compared to its average volume of 808,324. 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 company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 58.21 and a beta of 1.02. Rapid7 has a 1 year low of $21.61 and a 1 year high of $44.48. The business's 50 day moving average price is $23.61 and its two-hundred day moving average price is $30.05.

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

Insider Buying and Selling

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Rapid7

A number of institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System acquired a new position in shares of Rapid7 during the first quarter worth about $29,000. Skandinaviska Enskilda Banken AB publ lifted its position 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Rapid7 during the 1st quarter worth approximately $38,000. Versant Capital Management Inc boosted its holdings in Rapid7 by 5,311.1% in the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after acquiring an additional 1,434 shares during the period. Finally, Ostrum Asset Management grew its position in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after acquiring an additional 772 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other 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.