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

Rapid7 (NASDAQ:RPD) had its price target reduced by stock analysts at Jefferies Financial Group from $50.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 22.32% from the stock’s current price.

A number of other research analysts have also recently weighed in on RPD. Truist Financial cut their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. DA Davidson lifted their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays reduced their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday. UBS Group reduced their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average target price of $42.18.

Rapid7 Stock Down 3.0 %

Shares of RPD opened at $36.79 on Thursday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 58.40 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79. The stock’s 50-day moving average price is $39.57 and its 200-day moving average price is $38.87.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. As a group, equities analysts anticipate that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Rapid7 by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after purchasing an additional 60,095 shares during the period. Geode Capital Management LLC grew its stake in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after buying an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Rapid7 by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock worth $20,920,000 after buying an additional 8,918 shares during the last quarter. Thematics Asset Management raised its position in shares of Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after buying an additional 99,000 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Rapid7 during the 4th quarter valued at approximately $12,050,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Company Profile

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.