Rapid7 (NASDAQ:RPD) Price Target Cut to $47.00 by Analysts at Mizuho

Rapid7 (NASDAQ:RPD) had its price objective decreased by analysts at Mizuho from $62.00 to $47.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Mizuho’s price objective indicates a potential upside of 2.62% from the stock’s current price.

A number of other brokerages also recently weighed in on RPD. Scotiabank assumed coverage on shares of Rapid7 in a report on Friday, April 26th. They issued a “sector perform” rating and a $46.00 price target for the company. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. JPMorgan Chase & Co. cut their price target on Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Barclays lifted their price objective on Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and a consensus price target of $55.31.

Rapid7 Stock Performance

NASDAQ RPD opened at $45.80 on Wednesday. The stock has a market capitalization of $2.85 billion, a PE ratio of -18.25 and a beta of 1.01. The stock has a 50-day simple moving average of $49.41 and a 200 day simple moving average of $52.81. Rapid7 has a twelve month low of $39.49 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating 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 company had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. As a group, equities research analysts forecast that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Activity

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal 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 dated 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 completion of the sale, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the company’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 transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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