Analysts Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $41.22

Rapid7, Inc. (NASDAQ:RPD) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the stock, Marketbeat reports. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.22.

Several research firms recently commented on RPD. Scotiabank cut their target price on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group cut their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. UBS Group lowered their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Barclays lowered their price target on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th.

Rapid7 Trading Up 4.5 %

Shares of Rapid7 stock opened at $27.99 on Monday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 71.77 and a beta of 0.92. Rapid7 has a 1-year low of $26.77 and a 1-year high of $51.99. The firm has a fifty day simple moving average of $35.18 and a 200-day simple moving average of $37.88.

Rapid7 (NASDAQ:RPD) 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 3.46% and a negative return on equity of 130.41%. As a group, research analysts predict that Rapid7 will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’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 directly owns 431,469 shares of the company’s stock, 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 can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently modified their holdings of RPD. Pacer Advisors Inc. grew its holdings 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 buying an additional 347 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after buying an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings 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 buying an additional 455 shares in the last quarter. Ostrum Asset Management grew its holdings in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after buying an additional 772 shares in the last quarter. Finally, KBC Group NV grew its holdings 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 buying an additional 867 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.