Rapid7 (NASDAQ:RPD) Price Target Cut to $39.00 by Analysts at Robert W. Baird

Rapid7 (NASDAQ:RPD) had its target price decreased by Robert W. Baird from $43.00 to $39.00 in a research report report published on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

Other analysts have also issued reports about the stock. UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 price target (down from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. Jefferies Financial Group initiated coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Rapid7 currently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Down 5.4 %

Shares of Rapid7 stock opened at $34.82 on Thursday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The business’s 50 day simple moving average is $39.39 and its 200-day simple moving average is $38.84.

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

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Rapid7 during the fourth quarter worth about $12,050,000. Marshall Wace LLP lifted its position in shares of Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after buying an additional 280,913 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Rapid7 during the 3rd quarter worth approximately $6,647,000. Finally, Birnam Oak Advisors LP acquired a new position in shares of Rapid7 during the 4th quarter worth approximately $4,425,000. 95.66% of the stock is 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.