Rapid7 (NASDAQ:RPD) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

Rapid7 (NASDAQ:RPD - Get Free Report) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $42.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.76% from the stock's previous close.

A number of other brokerages also recently issued reports on RPD. Citigroup lowered their price target on Rapid7 from $50.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, January 17th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Scotiabank upped their price target on Rapid7 from $39.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Jefferies Financial Group began coverage on Rapid7 in a research report on Wednesday, October 16th. They issued a "buy" rating and a $50.00 price target for the company. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Sixteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $41.22.

Rapid7 Price Performance

RPD stock traded up $0.97 during midday trading on Tuesday, hitting $35.79. The stock had a trading volume of 840,097 shares, compared to its average volume of 636,764. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 56.64 and a beta of 0.96. The business has a 50-day moving average of $39.39 and a two-hundred day moving average of $38.84. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.79.

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

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm'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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Rapid7

A number of institutional investors and hedge funds have recently modified their holdings of RPD. International Assets Investment Management LLC increased its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after purchasing an additional 661 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Rapid7 by 68.8% in the 4th 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 during the period. Pacer Advisors Inc. increased its holdings in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after acquiring an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Rapid7 in the 3rd quarter valued at $69,000. Finally, Ostrum Asset Management boosted its position in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares in the last quarter. 95.66% of the stock is 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.