Rapid7 (NASDAQ:RPD) Price Target Lowered to $25.00 at Barclays

Rapid7 (NASDAQ:RPD) had its price objective decreased by Barclays from $26.00 to $25.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

RPD has been the topic of several other reports. Morgan Stanley lowered their target price on shares of Rapid7 from $33.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. UBS Group lowered their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. DA Davidson reaffirmed an “underperform” rating and set a $21.00 target price (down from $29.00) on shares of Rapid7 in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $36.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Truist Financial decreased their price objective 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.53.

Rapid7 Stock Down 8.2%

Shares of RPD stock opened at $24.56 on Tuesday. The firm has a 50 day moving average price of $25.52 and a two-hundred day moving average price of $34.15. 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.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. The firm had revenue of $210.25 million during 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 business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, research analysts expect that Rapid7 will post 0.35 EPS for the current year.

Insider Buying and Selling

In related news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction 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 sale, the insider now owns 58,165 shares of the company’s stock, valued at $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in Rapid7 in the first quarter valued at $29,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in Rapid7 by 68.8% in the fourth 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 during the period. Versant Capital Management Inc lifted its holdings in Rapid7 by 5,311.1% in the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock valued at $39,000 after buying an additional 1,434 shares during the period. Pacer Advisors Inc. lifted its holdings in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. Finally, Ostrum Asset Management lifted its holdings in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after buying an additional 772 shares during the period. 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.