Citigroup Cuts Rapid7 (NASDAQ:RPD) Price Target to $30.00

Rapid7 (NASDAQ:RPD) had its target price trimmed by Citigroup from $35.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the stock. Robert W. Baird upped their target price on shares of Rapid7 from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Jefferies Financial Group set a $27.00 target price on shares of Rapid7 and gave the stock a “buy” rating in a research report on Friday, August 8th. Wall Street Zen raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. Susquehanna lowered their price target on Rapid7 from $30.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Finally, Stifel Nicolaus lowered their price target on Rapid7 from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.89.

Rapid7 Stock Down 4.1%

NASDAQ:RPD opened at $20.27 on Monday. The firm’s 50-day moving average price is $22.39 and its 200-day moving average price is $25.48. The company has a market capitalization of $1.31 billion, a PE ratio of 49.44 and a beta of 0.96. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. Rapid7 has a 1-year low of $17.83 and a 1-year high of $44.48.

Rapid7 (NASDAQ:RPD) last released its earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.14. The firm had revenue of $214.19 million for the quarter, compared to the consensus estimate of $212.17 million. Rapid7 had a net margin of 3.41% and a return on equity of 149.12%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. Rapid7 has set its FY 2025 guidance at 1.900-2.030 EPS. Q3 2025 guidance at 0.440-0.470 EPS. On average, equities analysts predict that Rapid7 will post 0.35 EPS for the current fiscal year.

Insider Activity at Rapid7

In other Rapid7 news, Director Jana Partners Management, Lp acquired 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $21.26 per share, with a total value of $5,315,000.00. Following the completion of the transaction, the director directly owned 6,518,604 shares of the company’s stock, valued at approximately $138,585,521.04. This represents a 3.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 772,194 shares of company stock worth $15,135,356 over the last 90 days. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Several institutional investors have recently modified their holdings of RPD. Teacher Retirement System of Texas increased its position in Rapid7 by 24.1% during the first quarter. Teacher Retirement System of Texas now owns 54,091 shares of the technology company’s stock valued at $1,434,000 after acquiring an additional 10,487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Rapid7 by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,548 shares of the technology company’s stock valued at $291,000 after acquiring an additional 1,648 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Rapid7 during the first quarter valued at $29,000. Invesco Ltd. increased its position in Rapid7 by 5.4% during the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock valued at $1,468,000 after acquiring an additional 1,860 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Rapid7 by 1.1% during the first quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company’s stock valued at $1,456,000 after acquiring an additional 609 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.