Rapid7 (NASDAQ:RPD) Downgraded by Baird R W

Baird R W lowered shares of Rapid7 (NASDAQ:RPD) from a strong-buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

Several other research firms have also recently weighed in on RPD. Truist Financial dropped their price target on Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a report on Wednesday, May 8th. Robert W. Baird lowered shares of Rapid7 from an outperform rating to a neutral rating and lowered their price target for the stock from $56.00 to $45.00 in a research report on Thursday. Morgan Stanley restated an equal weight rating and set a $46.00 target price on shares of Rapid7 in a research report on Wednesday, July 10th. Canaccord Genuity Group dropped their price target on shares of Rapid7 from $60.00 to $52.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a hold rating on shares of Rapid7 in a research report on Friday, May 10th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $49.00.

Rapid7 Price Performance

NASDAQ:RPD opened at $35.28 on Thursday. The company has a market cap of $2.20 billion, a P/E ratio of -17.21 and a beta of 0.98. The firm’s fifty day moving average price is $38.87 and its two-hundred day moving average price is $46.29. Rapid7 has a one year low of $33.34 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. As a group, equities research analysts expect that Rapid7 will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in shares of Rapid7 during the 1st quarter valued at approximately $36,000. Mather Group LLC. acquired a new stake in Rapid7 in the first quarter valued at approximately $42,000. Summit Securities Group LLC acquired a new position in shares of Rapid7 during the second quarter worth $43,000. International Assets Investment Management LLC lifted its stake in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after acquiring an additional 943 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Rapid7 during the 2nd quarter valued at $72,000. Institutional investors own 95.66% of the company’s stock.

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.