DA Davidson Lowers Rapid7 (NASDAQ:RPD) Price Target to $29.00

Rapid7 (NASDAQ:RPD) had its price target lowered by equities research analysts at DA Davidson from $35.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. DA Davidson’s target price indicates a potential downside of 0.59% from the company’s current price.

Several other brokerages have also issued reports on RPD. Raymond James cut their price objective on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group decreased their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research report 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 cut their price target on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lowered 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, February 11th. Fifteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.94.

Rapid7 Stock Down 1.8 %

NASDAQ:RPD traded down $0.53 during midday trading on Tuesday, hitting $29.17. The stock had a trading volume of 67,151 shares, compared to its average volume of 831,901. The stock has a 50-day moving average of $33.96 and a 200 day moving average of $37.53. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 75.19 and a beta of 0.92. Rapid7 has a one year low of $26.77 and a one year high of $50.55.

Rapid7 (NASDAQ:RPD) last released 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 net margin of 3.46% and a negative return on equity of 130.41%. On average, sell-side analysts anticipate that Rapid7 will post 0.35 earnings per share 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 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 transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rapid7 by 68.8% in the 4th 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. Pacer Advisors Inc. grew its holdings in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 during the third quarter worth $69,000. Ostrum Asset Management raised its holdings in shares of Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the last quarter. Finally, KBC Group NV lifted 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 valued at $108,000 after acquiring an additional 867 shares in the last quarter. 95.66% of the stock is currently 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.