Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at UBS Group

Rapid7 (NASDAQ:RPD) had its target price trimmed by UBS Group from $52.00 to $45.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $42.00 target price (down from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday. DA Davidson upped their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Scotiabank increased their target price on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Truist Financial dropped their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $34.82 on Thursday. The stock’s 50-day moving average is $39.39 and its 200 day moving average is $38.84. The company has a market cap of $2.20 billion, a PE ratio of 55.27 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after buying an additional 455 shares in the last quarter. Pacer Advisors Inc. raised its position in Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 in the 3rd quarter worth about $69,000. Finally, KBC Group NV lifted its stake in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after acquiring an additional 867 shares during the period. 95.66% of the stock is owned by 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.