Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at Raymond James

Rapid7 (NASDAQ:RPD - Free Report) had its target price trimmed by Raymond James from $55.00 to $45.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the technology company's stock.

Several other equities analysts have also recently commented on the company. DA Davidson increased their target price on Rapid7 from $35.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Rapid7 from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.22.

Rapid7 Price Performance

NASDAQ RPD traded up $0.73 on Thursday, reaching $35.55. The company had a trading volume of 1,545,758 shares, compared to its average volume of 532,994. The firm has a market capitalization of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The firm has a 50-day moving average of $39.23 and a 200-day moving average of $38.81.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its 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 5.65% and a negative return on equity of 128.95%. As a group, sell-side analysts expect that Rapid7 will post 0.98 EPS 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 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RPD. Vanguard Group Inc. boosted its stake in Rapid7 by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company's stock valued at $346,721,000 after buying an additional 60,095 shares in the last quarter. JANA Partners Management LP boosted its stake in Rapid7 by 0.9% during the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company's stock valued at $148,454,000 after buying an additional 34,589 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rapid7 by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company's stock valued at $58,330,000 after buying an additional 15,287 shares in the last quarter. First Trust Advisors LP boosted its stake in Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock valued at $50,518,000 after buying an additional 79,836 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rapid7 by 17.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 919,434 shares of the technology company's stock valued at $36,993,000 after buying an additional 133,967 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.