Rapid7 (NASDAQ:RPD) Price Target Lowered to $29.00 at DA Davidson

Rapid7 (NASDAQ:RPD - Get Free Report) had its target price dropped by equities research analysts at DA Davidson from $35.00 to $29.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a "neutral" rating on the technology company's stock. DA Davidson's price objective would suggest a potential upside of 5.11% from the company's current price.

Several other research analysts have also recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Rapid7 from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Scotiabank decreased their price objective on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Morgan Stanley initiated coverage on Rapid7 in a research report on Tuesday, March 18th. They issued an "equal weight" rating and a $33.00 target price on the stock. Robert W. Baird reduced their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Rapid7 currently has an average rating of "Hold" and an average target price of $39.94.

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Rapid7 Price Performance

RPD stock traded down $1.12 during trading hours on Tuesday, reaching $27.59. 575,211 shares of the stock were exchanged, compared to its average volume of 848,024. The firm's 50-day moving average is $33.10 and its 200-day moving average is $37.33. Rapid7 has a 12 month low of $26.77 and a 12 month high of $50.55. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 70.74 and a beta of 0.92.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities research analysts forecast that Rapid7 will post 0.35 earnings per share for the current year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ grew its stake in shares of 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 acquiring an additional 455 shares in the last quarter. Pacer Advisors Inc. grew its position 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 worth $60,000 after purchasing an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Rapid7 during the third quarter worth approximately $69,000. Ostrum Asset Management increased its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares during the period. Finally, KBC Group NV raised its position in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after buying an additional 867 shares in the last quarter. 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.