Rapid7 (NASDAQ:RPD) Price Target Cut to $29.00 by Analysts at Stifel Nicolaus

Rapid7 (NASDAQ:RPD) had its price objective lowered by Stifel Nicolaus from $38.00 to $29.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

RPD has been the topic of several other research reports. Truist Financial reduced their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Mizuho set a $30.00 price target on shares of Rapid7 in a research note on Wednesday, April 16th. UBS Group reduced their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird raised their target price on shares of Rapid7 from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Barclays cut their target price on shares of Rapid7 from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.53.

Rapid7 Price Performance

RPD stock opened at $24.56 on Tuesday. The company has a market capitalization of $1.58 billion, a PE ratio of 62.97 and a beta of 1.06. Rapid7 has a 12 month low of $21.61 and a 12 month high of $44.48. The firm’s 50-day moving average is $25.52 and its 200 day moving average is $34.15.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12. The company had revenue of $210.25 million for the quarter, compared to the consensus estimate of $208.25 million. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. Sell-side analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In related news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in 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 purchasing an additional 347 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Rapid7 by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock worth $1,456,000 after purchasing an additional 609 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Rapid7 by 12.0% in the 1st quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company’s stock worth $171,000 after purchasing an additional 625 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.