Rapid7 (NASDAQ:RPD - Free Report) had its target price trimmed by Jefferies Financial Group from $45.00 to $35.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company's stock.
Other equities analysts have also issued reports about the stock. Barclays decreased their price objective on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Truist Financial dropped their price target on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley began coverage on Rapid7 in a report on Tuesday, March 18th. They set an "equal weight" rating and a $33.00 target price for the company. Finally, Citigroup decreased their price objective on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of "Hold" and a consensus target price of $39.05.
Check Out Our Latest Analysis on Rapid7
Rapid7 Trading Down 0.1 %
Shares of NASDAQ RPD traded down $0.02 during trading hours on Monday, reaching $26.76. The stock had a trading volume of 219,394 shares, compared to its average volume of 846,741. The business's fifty day moving average price is $32.60 and its two-hundred day moving average price is $37.27. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 68.69 and a beta of 0.99. Rapid7 has a 52-week low of $25.98 and a 52-week high of $50.55.
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%. Equities research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current fiscal year.
Insider Activity
In other 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 value of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPD. Nordea Investment Management AB raised its position in shares of Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company's stock valued at $3,030,000 after buying an additional 37,708 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Rapid7 in the 4th quarter valued at about $12,050,000. Stifel Financial Corp purchased a new position in Rapid7 in the 3rd quarter worth approximately $1,006,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company's stock worth $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Rapid7 by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company's stock valued at $2,185,000 after purchasing an additional 6,645 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
About Rapid7
(
Get Free Report)
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.
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