Barclays Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD - Get Free Report) had its price target dropped by investment analysts at Barclays from $35.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Barclays's price target would indicate a potential upside of 15.25% from the stock's previous close.

Several other equities analysts also recently commented on RPD. Needham & Company LLC reissued a "hold" rating on shares of Rapid7 in a research note on Thursday, February 13th. Stephens started coverage on Rapid7 in a report on Tuesday, April 1st. They set an "equal weight" rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Finally, Morgan Stanley started coverage on Rapid7 in a report on Tuesday, March 18th. They set an "equal weight" rating and a $33.00 price target on the stock. Fifteen equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.32.

Rapid7 Stock Performance

Shares of NASDAQ RPD traded down $0.27 during midday trading on Monday, reaching $22.56. The company's stock had a trading volume of 1,266,105 shares, compared to its average volume of 877,020. The company has a market cap of $1.44 billion, a P/E ratio of 57.85 and a beta of 0.99. Rapid7 has a fifty-two week low of $22.08 and a fifty-two week high of $46.96. The business's 50 day moving average price is $28.12 and its two-hundred day moving average price is $35.95.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Sell-side analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction 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. This trade represents 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. Also, insider Christina Luconi sold 12,551 shares of the company'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 completion of the transaction, the insider now owns 58,165 shares of the company's stock, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Rapid7

A number of large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its stake in Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock valued at $3,030,000 after acquiring an additional 37,708 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Rapid7 during the 4th quarter valued at approximately $539,000. Raymond James Financial Inc. bought a new position in Rapid7 in the 4th quarter worth approximately $12,050,000. Stifel Financial Corp purchased a new position in Rapid7 during the 3rd quarter valued at about $1,006,000. Finally, Principal Financial Group Inc. boosted its position in shares of Rapid7 by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after acquiring an additional 6,645 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

About Rapid7

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.