DA Davidson Issues Pessimistic Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price target decreased by stock analysts at DA Davidson from $35.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential downside of 0.59% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup lowered their price objective on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. UBS Group reduced their price objective on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Raymond James dropped their target price on Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Truist Financial decreased their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.94.

Rapid7 Trading Down 1.8 %

Shares of NASDAQ RPD traded down $0.53 during midday trading on Tuesday, hitting $29.17. The company’s stock had a trading volume of 67,151 shares, compared to its average volume of 831,901. Rapid7 has a one year low of $26.77 and a one year high of $50.55. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 75.19 and a beta of 0.92. The stock has a fifty day moving average price of $33.96 and a 200 day moving average price of $37.53.

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 the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, equities research analysts predict that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred 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 sale, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ grew its holdings in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Rapid7 in the 3rd quarter valued at about $69,000. Ostrum Asset Management increased its stake in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the last quarter. Finally, KBC Group NV raised its position in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the period. 95.66% of the stock is currently owned by institutional investors.

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.