Rapid7 (NASDAQ:RPD) PT Lowered to $52.00 at Citigroup

Rapid7 (NASDAQ:RPD) had its price target cut by Citigroup from $65.00 to $52.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 36.84% from the stock’s current price.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada cut their price target on Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird decreased their price objective on Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group dropped their target price on Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.13.

Rapid7 Trading Down 17.0 %

Shares of Rapid7 stock traded down $7.80 on Wednesday, hitting $38.00. The stock had a trading volume of 9,293,078 shares, compared to its average volume of 804,990. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. Rapid7 has a 52-week low of $35.22 and a 52-week high of $61.88. The company’s 50 day moving average price is $49.41 and its 200 day moving average price is $52.81.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. Analysts predict that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction that occurred 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 owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. ProShare Advisors LLC grew its stake in Rapid7 by 8.0% in the first quarter. ProShare Advisors LLC now owns 11,175 shares of the technology company’s stock valued at $548,000 after purchasing an additional 823 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Rapid7 by 80.5% in the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company’s stock worth $150,000 after buying an additional 1,368 shares during the last quarter. Headlands Technologies LLC raised its position in Rapid7 by 99.2% during the first quarter. Headlands Technologies LLC now owns 4,267 shares of the technology company’s stock valued at $209,000 after acquiring an additional 2,125 shares in the last quarter. Swiss National Bank grew its position in Rapid7 by 1.0% in the first quarter. Swiss National Bank now owns 121,300 shares of the technology company’s stock worth $5,949,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Rapid7 during the 1st quarter worth $218,000. 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.