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

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

Several other brokerages also recently commented on RPD. Piper Sandler cut their price objective on Rapid7 from $35.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Scotiabank cut their price objective on Rapid7 from $38.00 to $29.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley upped their price objective on Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on Rapid7 from $36.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Finally, Stifel Nicolaus cut their price objective on Rapid7 from $38.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rapid7 has a consensus rating of "Hold" and a consensus target price of $33.32.

Rapid7 Price Performance

NASDAQ:RPD traded up $0.43 during trading hours on Friday, reaching $23.13. The stock had a trading volume of 837,591 shares, compared to its average volume of 801,480. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24. Rapid7 has a 52 week low of $21.61 and a 52 week high of $44.48. The company has a 50 day moving average price of $23.61 and a two-hundred day moving average price of $29.90. The stock has a market capitalization of $1.49 billion, a PE ratio of 59.31 and a beta of 1.02.

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

Insider Buying and Selling at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider directly owned 58,165 shares in the company, valued at $1,344,774.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock worth $346,721,000 after purchasing an additional 60,095 shares during the last quarter. JANA Partners Management LP raised its stake in Rapid7 by 0.9% in the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock valued at $148,454,000 after buying an additional 34,589 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Rapid7 by 112.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,286,300 shares of the technology company's stock valued at $60,610,000 after buying an additional 1,209,856 shares during the last quarter. Penserra Capital Management LLC raised its stake in Rapid7 by 95.8% in the first quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company's stock valued at $49,841,000 after buying an additional 919,955 shares during the last quarter. Finally, Shapiro Capital Management LLC raised its stake in Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock valued at $51,935,000 after buying an additional 964,899 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.