Rapid7 (NASDAQ:RPD) Price Target Raised to $42.00 at JPMorgan Chase & Co.

Rapid7 (NASDAQ:RPD - Get Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $40.00 to $42.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 1.74% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group upgraded Rapid7 from a "hold" rating to a "buy" rating and dropped their price objective for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Baird R W cut shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. Morgan Stanley reaffirmed an "equal weight" rating and issued a $46.00 price target on shares of Rapid7 in a research note on Wednesday, July 10th. Scotiabank lowered their price objective on shares of Rapid7 from $45.00 to $41.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial reduced 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. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $44.59.

Rapid7 Stock Down 0.8 %

RPD traded down $0.32 during trading on Thursday, reaching $41.28. The company had a trading volume of 1,151,797 shares, compared to its average volume of 847,726. The business has a 50 day simple moving average of $37.97 and a 200-day simple moving average of $38.79. The stock has a market cap of $2.59 billion, a P/E ratio of -49.14 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same quarter last year, the business earned ($0.33) EPS. The business's revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts expect that Rapid7 will post 0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares of the company's stock, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RPD. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC purchased a new position in Rapid7 in the 2nd quarter worth $35,000. Summit Securities Group LLC purchased a new position in Rapid7 in the 2nd quarter worth $43,000. Financial Connections Group Inc. acquired a new stake in Rapid7 during the 2nd quarter worth about $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Rapid7 during the 1st quarter valued at about $83,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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.