Rapid7 (NASDAQ:RPD) Downgraded by Baird R W

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

RPD has been the subject of a number of other research reports. UBS Group reduced their price objective on Rapid7 from $70.00 to $65.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Robert W. Baird lowered Rapid7 from an outperform rating to a neutral rating and reduced their price target for the company from $56.00 to $45.00 in a report on Thursday. Barclays dropped their price objective on Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. KeyCorp upgraded shares of Rapid7 to a hold rating in a research note on Monday, June 17th. Finally, Scotiabank initiated coverage on shares of Rapid7 in a research note on Friday, April 26th. They set a sector perform rating and a $46.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $49.00.

Rapid7 Price Performance

Shares of RPD opened at $35.28 on Thursday. The business’s 50-day moving average is $38.87 and its 200-day moving average is $46.29. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -17.21 and a beta of 0.98. Rapid7 has a fifty-two week low of $33.34 and a fifty-two week high of $61.88.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in shares of Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares during the last quarter. Norges Bank acquired a new position in shares of Rapid7 during the fourth quarter valued at about $37,790,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rapid7 by 46.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after buying an additional 397,968 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Rapid7 by 7,688.6% in the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after buying an additional 163,075 shares during the period. Finally, Wasatch Advisors LP grew its position in Rapid7 by 12.8% during the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after buying an additional 160,531 shares in the last quarter. 95.66% of the stock is owned by 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.