DA Davidson Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price target trimmed by DA Davidson from $35.00 to $29.00 in a research note published on Tuesday, MarketBeat reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Barclays reduced their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Scotiabank reduced their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped 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. Finally, Jefferies Financial Group reduced their target price on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Rapid7 has an average rating of “Hold” and a consensus price target of $39.94.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $28.71 on Tuesday. Rapid7 has a 52-week low of $26.77 and a 52-week high of $50.55. The business’s 50 day simple moving average is $33.32 and its 200 day simple moving average is $37.38. The firm has a market cap of $1.84 billion, a PE ratio of 73.62 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, equities research analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after buying an additional 37,708 shares during the period. Raymond James Financial Inc. bought a new stake in Rapid7 during the 4th quarter worth approximately $12,050,000. Stifel Financial Corp acquired a new position in Rapid7 in the 3rd quarter valued at approximately $1,006,000. Maverick Capital Ltd. bought a new position in shares of Rapid7 during the third quarter valued at $1,679,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after acquiring an additional 208,501 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.