Citigroup Lowers Rapid7 (NASDAQ:RPD) Price Target to $44.00

Rapid7 (NASDAQ:RPD - Free Report) had its price objective lowered by Citigroup from $46.00 to $44.00 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company's stock.

A number of other analysts have also weighed in on the company. Truist Financial dropped their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday. StockNews.com raised Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. Scotiabank dropped their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price target on Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday. Finally, Piper Sandler dropped their price target 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.22.

Rapid7 Trading Up 2.1 %

Shares of NASDAQ:RPD traded up $0.73 during trading on Thursday, reaching $35.55. 1,545,758 shares of the company traded hands, compared to its average volume of 532,994. The firm 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 52-week low of $32.94 and a 52-week high of $61.79. The business's fifty day moving average is $39.23 and its 200-day 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 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%. On average, sell-side analysts predict that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Rapid7

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after purchasing an additional 347 shares during the period. 1620 Investment Advisors Inc. grew its stake 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 purchasing an additional 352 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Rapid7 by 0.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company's stock valued at $2,782,000 after purchasing an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Rapid7 by 3,888.2% during 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. 95.66% of the stock is currently owned by institutional investors.

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.