Jefferies Financial Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $45.00

Rapid7 (NASDAQ:RPD - Get Free Report) had its price target dropped by equities researchers at Jefferies Financial Group from $50.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Jefferies Financial Group's price target would suggest a potential upside of 26.58% from the stock's previous close.

A number of other research firms have also issued reports on RPD. StockNews.com upgraded shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Stifel Nicolaus reiterated a "hold" rating and issued a $42.00 price objective (down from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. Needham & Company LLC reiterated a "hold" rating on shares of Rapid7 in a report on Thursday. Barclays cut their price target on Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Citigroup decreased their price objective on Rapid7 from $50.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Sixteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.22.

Rapid7 Price Performance

Shares of RPD stock traded up $0.73 on Thursday, hitting $35.55. The stock had a trading volume of 1,545,758 shares, compared to its average volume of 532,994. The company's 50 day moving average price is $39.23 and its 200-day moving average price is $38.81. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The firm has a market capitalization of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its 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 net margin of 5.65% and a negative return on equity of 128.95%. On average, equities analysts forecast that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In other news, CEO Corey E. Thomas sold 100,000 shares of the 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 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 represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position 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 acquiring an additional 661 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rapid7 by 68.8% during the fourth 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. lifted its holdings in shares of Rapid7 by 30.4% during the fourth 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 period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 during the third quarter worth $69,000. Finally, Ostrum Asset Management grew its position in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock valued at $100,000 after buying an additional 772 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Company Profile

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.