Rapid7 (NASDAQ:RPD) Given New $35.00 Price Target at Jefferies Financial Group

Rapid7 (NASDAQ:RPD - Free Report) had its target price lowered by Jefferies Financial Group from $45.00 to $35.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other equities analysts have also recently issued reports on RPD. Raymond James dropped their price objective on shares of Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. DA Davidson lowered their price objective on Rapid7 from $35.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Truist Financial cut their target price on Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $39.05.

Rapid7 Stock Performance

Shares of RPD traded down $1.90 during trading hours on Monday, reaching $23.68. 1,292,159 shares of the company traded hands, compared to its average volume of 854,419. The stock's fifty day moving average is $31.79 and its 200 day moving average is $37.05. Rapid7 has a 1-year low of $23.38 and a 1-year high of $50.55. The stock has a market cap of $1.51 billion, a P/E ratio of 60.72 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly 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%. On average, equities research analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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 the business. Versant Capital Management Inc boosted its stake in Rapid7 by 5,311.1% in the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock valued at $39,000 after acquiring an additional 1,434 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position 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 worth $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its position 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 worth $60,000 after purchasing an additional 347 shares during the last quarter. Ostrum Asset Management grew its stake 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 increased its holdings in 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 purchasing an additional 867 shares during 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.