UBS Group Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective lowered by analysts at UBS Group from $59.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s price objective suggests a potential upside of 24.28% from the company’s current price.

A number of other analysts have also recently commented on RPD. Truist Financial dropped their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. Baird R W cut Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research report on Wednesday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.75.

Rapid7 Price Performance

Shares of RPD traded up $0.24 during mid-day trading on Thursday, reaching $41.84. 462,716 shares of the company’s stock were exchanged, compared to its average volume of 844,536. The business’s fifty day simple moving average is $37.90 and its 200-day simple moving average is $38.77. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.88. The stock has a market capitalization of $2.62 billion, a PE ratio of -50.60 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The company had revenue of $207.99 million during the quarter, compared to the consensus estimate of $204.04 million. During the same quarter last year, the company earned ($0.33) earnings per share. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts predict that Rapid7 will post 0.8 earnings per share for the current year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RPD. Algert Global LLC lifted its position in shares of Rapid7 by 158.6% in the 2nd quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after acquiring an additional 74,793 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Rapid7 by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after buying an additional 18,907 shares during the period. SG Americas Securities LLC increased its holdings in Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after purchasing an additional 163,075 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Rapid7 during the 3rd quarter valued at $948,000. Finally, Point72 Asset Management L.P. increased its holdings in Rapid7 by 252.0% during 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 purchasing an additional 2,719,791 shares in the last quarter. Institutional investors and hedge funds 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.