Needham & Company LLC Reiterates “Hold” Rating for Rapid7 (NASDAQ:RPD)

Rapid7 (NASDAQ:RPD)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other analysts have also recently issued reports on the company. Citigroup cut their price objective on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Scotiabank raised their price target on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.18.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $36.79 on Thursday. The stock has a 50 day moving average price of $39.57 and a 200 day moving average price of $38.87. The stock has a market capitalization of $2.33 billion, a PE ratio of 58.40 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. As a group, research analysts forecast that Rapid7 will post 0.98 EPS for the current year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after purchasing an additional 37,708 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Rapid7 in the third quarter valued at approximately $948,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Rapid7 by 36.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after buying an additional 22,734 shares during the last quarter. Stifel Financial Corp acquired a new stake in Rapid7 during the 3rd quarter worth approximately $1,006,000. Finally, Maverick Capital Ltd. bought a new stake in Rapid7 during the 3rd quarter worth approximately $1,679,000. Institutional investors own 95.66% of the company’s stock.

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.