Barclays Lowers Rapid7 (NASDAQ:RPD) Price Target to $35.00

Rapid7 (NASDAQ:RPD - Free Report) had its price target cut by Barclays from $43.00 to $35.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the technology company's stock.

Several other brokerages have also recently weighed in on RPD. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $42.00 price objective (down from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. Truist Financial cut their target price on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, November 7th. Citigroup lowered their price target on shares of Rapid7 from $50.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Finally, UBS Group cut their price objective on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.22.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded up $0.73 on Thursday, hitting $35.55. 1,545,758 shares of the company's stock were exchanged, compared to its average volume of 532,994. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.79. The business's 50 day simple moving average is $39.23 and its two-hundred day simple moving average is $38.81.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Equities analysts forecast that Rapid7 will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after purchasing an additional 661 shares during the period. Skandinaviska Enskilda Banken AB publ increased 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 in the last quarter. Pacer Advisors Inc. raised its position in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after acquiring an additional 347 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 in the third quarter worth about $69,000. Finally, Ostrum Asset Management boosted its stake in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after acquiring an additional 772 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other 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.