Robert W. Baird Cuts Rapid7 (NASDAQ:RPD) Price Target to $39.00

Rapid7 (NASDAQ:RPD - Free Report) had its price target decreased by Robert W. Baird from $43.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company's stock.

RPD has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a "buy" rating and a $50.00 target price for the company. Scotiabank lifted their price objective on Rapid7 from $39.00 to $42.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Citigroup decreased their target price on Rapid7 from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Finally, Truist Financial cut their price target on shares of Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a research note on Thursday, November 7th. Sixteen investment 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 has an average rating of "Hold" and a consensus target price of $41.22.

Rapid7 Stock Performance

Shares of Rapid7 stock traded up $0.73 during trading hours on Thursday, hitting $35.55. The company's stock had a trading volume of 1,545,758 shares, compared to its average volume of 532,994. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The firm has a fifty day moving average of $39.23 and a 200-day moving average of $38.81.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on 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 sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently made changes to their positions in RPD. Creative Planning acquired a new stake in Rapid7 during the 3rd quarter worth $253,000. Tempus Wealth Planning LLC purchased a new stake in shares of Rapid7 in the third quarter valued at about $264,000. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock valued at $27,000 after buying an additional 661 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Rapid7 during the third quarter worth about $948,000. Finally, 1620 Investment Advisors Inc. increased its position in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock valued at $111,000 after acquiring an additional 352 shares during the period. Institutional investors and hedge funds 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.