Rapid7 (NASDAQ:RPD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Rapid7 (NASDAQ:RPD) had its price objective increased by JPMorgan Chase & Co. from $40.00 to $42.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

RPD has been the subject of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and decreased their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. UBS Group lowered their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank cut their price objective on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Down 1.8 %

Rapid7 stock opened at $40.54 on Thursday. The firm’s fifty day moving average price is $38.02 and its two-hundred day moving average price is $38.71. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88.

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank grew its position in shares of Rapid7 by 1.1% during the 1st quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after acquiring an additional 346 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Rapid7 by 10.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Rapid7 by 2.8% in the second quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors 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.