Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at Jefferies Financial Group

Rapid7 (NASDAQ:RPD) had its target price lowered by Jefferies Financial Group from $50.00 to $45.00 in a research note issued to investors on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. UBS Group decreased their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Scotiabank increased their price objective on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Sixteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Down 5.4 %

NASDAQ:RPD opened at $34.82 on Thursday. The company has a market capitalization of $2.20 billion, a PE ratio of 55.27 and a beta of 0.96. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.79. The stock’s 50 day moving average price is $39.39 and its 200 day moving average price is $38.84.

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

Insider Buying and Selling at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred 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 owns 431,469 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPD. International Assets Investment Management LLC grew its holdings in shares of Rapid7 by 3,888.2% during the 3rd 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 lifted 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 valued at $46,000 after buying an additional 455 shares in the last quarter. Pacer Advisors Inc. grew its stake 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 during the period. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 during the third quarter worth approximately $69,000. Finally, KBC Group NV increased its position in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares in 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.