UBS Group Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its target price reduced by stock analysts at UBS Group from $52.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. UBS Group’s price target would indicate a potential upside of 29.65% from the company’s current price.

Several other analysts also recently commented on RPD. Stifel Nicolaus restated a “hold” rating and set a $42.00 target price (down from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Piper Sandler dropped their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Scotiabank raised their target price on shares of Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. DA Davidson raised their target price on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lowered their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.35.

Rapid7 Stock Down 5.7 %

Rapid7 stock traded down $2.08 during midday trading on Thursday, hitting $34.71. 181,053 shares of the stock were exchanged, compared to its average volume of 574,891. The company has a fifty day simple moving average of $39.57 and a two-hundred day simple moving average of $38.87. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79. The stock has a market capitalization of $2.19 billion, a PE ratio of 55.09 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced 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 negative return on equity of 128.95% and a net margin of 5.65%. As a group, equities research analysts anticipate that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s 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 transaction, the chief executive officer now directly 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 is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Rapid7 by 3,888.2% during the third 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 period. Skandinaviska Enskilda Banken AB publ boosted its position in 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 period. Pacer Advisors Inc. boosted its position in 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 bought a new position in Rapid7 during the third quarter worth $69,000. Finally, KBC Group NV boosted its position in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after purchasing an additional 867 shares during the period. 95.66% of the stock is currently 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.