Rapid7 (NASDAQ:RPD) Price Target Lowered to $38.00 at Stifel Nicolaus

Rapid7 (NASDAQ:RPD) had its price objective reduced by Stifel Nicolaus from $42.00 to $38.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other brokerages have also recently commented on RPD. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Financial Group decreased their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial lowered their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. 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. Finally, Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. Sixteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.22.

Rapid7 Price Performance

NASDAQ RPD opened at $34.82 on Thursday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. The stock’s fifty day moving average price is $39.39 and its 200 day moving average price is $38.84. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share 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%. Research analysts expect that Rapid7 will post 0.98 earnings per share for the current year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s 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 transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Rapid7 during the 4th quarter worth $12,050,000. Marshall Wace LLP lifted its stake in shares of Rapid7 by 144.2% in the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after buying an additional 280,913 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in Rapid7 during the 3rd quarter valued at about $6,647,000. Finally, Birnam Oak Advisors LP acquired a new stake in Rapid7 in the 4th quarter valued at about $4,425,000. 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.