Rapid7 (RPD) – Analysts’ Weekly Ratings Updates

Rapid7 (NASDAQ: RPD) recently received a number of ratings updates from brokerages and research firms:

• 11/7/2024 – Rapid7 had its price target raised by analysts at DA Davidson from $35.00 to $39.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Rapid7 had its price target raised by analysts at JPMorgan Chase & Co. from $40.00 to $42.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Rapid7 had its price target lowered by analysts at Piper Sandler from $42.00 to $40.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Rapid7 had its price target lowered by analysts at Truist Financial Co. from $40.00 to $38.00. They now have a “hold” rating on the stock.
• 11/7/2024 – Rapid7 had its price target lowered by analysts at UBS Group AG from $59.00 to $52.00. They now have a “buy” rating on the stock.
• 10/23/2024 – Rapid7 had its price target lowered by analysts at Truist Financial Co. from $45.00 to $40.00. They now have a “hold” rating on the stock.
• 10/16/2024 – Rapid7 is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $50.00 price target on the stock.
• 9/20/2024 – Rapid7 was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $40.00 price target on the stock, down previously from $50.00.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.74 during midday trading on Friday, hitting $40.54. 1,005,345 shares of the stock were exchanged, compared to its average volume of 848,452. The business’s fifty day simple moving average is $37.97 and its two-hundred day simple moving average is $38.79. Rapid7, Inc. has a 52-week low of $32.94 and a 52-week high of $61.88. The company has a market capitalization of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. As a group, equities analysts anticipate that Rapid7, Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Point72 Asset Management L.P. raised its stake in shares of Rapid7 by 252.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after buying an additional 2,719,791 shares in the last quarter. Cannae Holdings Inc. acquired a new position in Rapid7 in the second quarter worth about $15,130,000. SG Americas Securities LLC lifted its stake in Rapid7 by 7,688.6% during the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after purchasing an additional 163,075 shares during the period. 272 Capital LP acquired a new stake in Rapid7 during the second quarter valued at approximately $6,979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Rapid7 in the 2nd quarter valued at approximately $6,106,000. 95.66% of the stock is currently owned by institutional investors.

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.