Rapid7 (NASDAQ:RPD) PT Lowered to $65.00 at UBS Group

Rapid7 (NASDAQ:RPD) had its target price reduced by research analysts at UBS Group from $70.00 to $65.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s price objective would indicate a potential upside of 58.65% from the company’s current price.

Several other research analysts also recently commented on RPD. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of 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 reissued an “outperform” rating and set a $70.00 price objective on shares of Rapid7 in a research report on Thursday, February 8th. Robert W. Baird reduced their price objective on Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Scotiabank initiated coverage on Rapid7 in a research report on Friday, April 26th. They set a “sector perform” rating and a $46.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.63.

Rapid7 Price Performance

NASDAQ:RPD traded down $4.83 during trading hours on Wednesday, reaching $40.97. 902,171 shares of the company were exchanged, compared to its average volume of 708,534. The company has a market capitalization of $2.55 billion, a P/E ratio of -16.42 and a beta of 1.01. Rapid7 has a 1-year low of $39.01 and a 1-year high of $61.88. The business has a 50 day moving average of $49.41 and a 200 day moving average of $52.81.

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

Insiders Place Their Bets

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $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

Several hedge funds have recently bought and sold shares of RPD. Duality Advisers LP purchased a new position in shares of Rapid7 during the fourth quarter valued at approximately $235,000. Lisanti Capital Growth LLC bought a new position in shares of Rapid7 during the fourth quarter worth $3,522,000. Tudor Investment Corp Et Al raised its stake in Rapid7 by 46.5% during the third quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock valued at $6,643,000 after purchasing an additional 46,053 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Rapid7 by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 10,798 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Rapid7 by 47.8% during the third quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company’s stock valued at $3,127,000 after purchasing an additional 22,100 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

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.