UBS Group Cuts Rapid7 (NASDAQ:RPD) Price Target to $45.00

Rapid7 (NASDAQ:RPD) had its target price cut by UBS Group from $52.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Thursday. Citigroup decreased their target price on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, January 17th. DA Davidson increased their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Sixteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $35.55 on Thursday. The firm’s 50 day moving average price is $39.23 and its 200 day moving average price is $38.81. The firm has a market cap of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96. 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 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 analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the business’s 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 sale, the chief executive officer now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RPD. Dendur Capital LP acquired a new stake in shares of Rapid7 during the 4th quarter valued at $19,190,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 during the fourth quarter valued at $12,050,000. Marshall Wace LLP boosted its position in shares of Rapid7 by 144.2% in the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after purchasing an additional 280,913 shares during the period. Harbor Capital Advisors Inc. increased its stake in Rapid7 by 259.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after purchasing an additional 208,501 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in Rapid7 during the 3rd quarter worth about $6,647,000. 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.