Rapid7 (NASDAQ:RPD) PT Lowered to $45.00

Rapid7 (NASDAQ:RPD) had its target price dropped by equities research analysts at Truist Financial from $50.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Truist Financial’s price objective would suggest a potential upside of 18.55% from the company’s previous close.

Several other analysts have also recently commented on RPD. UBS Group dropped their target price on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho reduced their target price on Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a report on Thursday, February 8th. Finally, Stifel Nicolaus dropped their target price on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday. Eleven 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.13.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded up $0.02 on Wednesday, hitting $37.96. 170,705 shares of the company were exchanged, compared to its average volume of 819,243. Rapid7 has a one year low of $35.22 and a one year high of $61.88. The company’s 50 day moving average price is $48.62 and its two-hundred day moving average price is $52.60. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted 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. 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 for the quarter, compared to the consensus estimate of $201.52 million. Research analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred 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 sale, 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 document filed with the SEC, which is available at the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction that occurred 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 directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Rapid7

Institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. bought a new position in shares of Rapid7 during the third quarter valued at $255,000. Raymond James & Associates boosted its position in shares of Rapid7 by 41.5% in the third quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock worth $4,615,000 after purchasing an additional 29,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rapid7 by 1.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock valued at $2,259,000 after acquiring an additional 502 shares during the period. Mackenzie Financial Corp boosted its stake in Rapid7 by 31.9% in the 3rd quarter. Mackenzie Financial Corp now owns 8,157 shares of the technology company’s stock worth $369,000 after purchasing an additional 1,971 shares during the period. Finally, Strs Ohio grew its stake in Rapid7 by 100.0% during the third quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock valued at $119,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other 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.