Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at Raymond James

Rapid7 (NASDAQ:RPD) had its target price lowered by Raymond James from $55.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research firms have also weighed in on RPD. UBS Group lowered their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson boosted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stifel Nicolaus decreased their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a report on Thursday. Robert W. Baird cut their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Piper Sandler decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus target price of $41.22.

Rapid7 Trading Down 5.4 %

Shares of Rapid7 stock opened at $34.82 on Thursday. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. The company has a fifty day moving average price of $39.39 and a 200 day moving average price of $38.84.

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

Insider Transactions at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

Institutional Trading of Rapid7

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