Rapid7 (NASDAQ:RPD) PT Lowered to $45.00 at Piper Sandler

Rapid7 (NASDAQ:RPD) had its price objective decreased by equities research analysts at Piper Sandler from $56.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective suggests a potential upside of 20.71% from the stock’s previous close.

A number of other research firms also recently weighed in on RPD. JPMorgan Chase & Co. dropped their price target on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Robert W. Baird dropped their price target on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. Truist Financial decreased their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Mizuho decreased their price objective on shares of Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.44.

Rapid7 Stock Down 18.6 %

NASDAQ RPD traded down $8.52 during midday trading on Wednesday, hitting $37.28. The company had a trading volume of 4,016,840 shares, compared to its average volume of 749,670. The firm has a fifty day simple moving average of $49.41 and a two-hundred day simple moving average of $52.81. Rapid7 has a fifty-two week low of $36.26 and a fifty-two week high of $61.88. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -15.18 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. As a group, equities analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insider Activity

In related news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently made changes to their positions in RPD. Fidelis Capital Partners LLC acquired a new stake in Rapid7 during the 1st quarter worth approximately $36,000. Mather Group LLC. bought a new stake in Rapid7 in the first quarter valued at $42,000. International Assets Investment Management LLC increased its stake in Rapid7 by 3,367.9% in the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares in the last quarter. Financial Connections Group Inc. bought a new stake in Rapid7 in the fourth quarter valued at $95,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rapid7 in the first quarter valued at $83,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.