Truist Financial Issues Pessimistic Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD - Free Report) had its price objective cut by Truist Financial from $38.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the technology company's stock.

Several other research firms have also issued reports on RPD. Scotiabank upped their price target on shares of Rapid7 from $39.00 to $42.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. UBS Group dropped their target price on Rapid7 from $59.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Citigroup cut their target price on shares of Rapid7 from $50.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of Rapid7 in a research note on Thursday. Finally, Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.22.

Rapid7 Trading Up 2.1 %

Shares of NASDAQ RPD traded up $0.73 during midday trading on Thursday, hitting $35.55. 1,545,758 shares of the company's stock were exchanged, compared to its average volume of 532,994. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.79. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. The business's fifty day moving average price is $39.23 and its two-hundred day moving average price is $38.81.

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 128.95% and a net margin of 5.65%. Equities analysts expect that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction 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 transaction, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,888.2% in 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 last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in 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 acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. raised its holdings in 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 acquiring an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the 3rd quarter worth approximately $69,000. Finally, Ostrum Asset Management raised its holdings in 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 acquiring an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.