Rapid7 (NASDAQ:RPD) Price Target Lowered to $49.00 at Barclays

Rapid7 (NASDAQ:RPD) had its price target cut by stock analysts at Barclays from $60.00 to $49.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 35.28% from the stock’s current price.

Several other equities research analysts also recently weighed in on RPD. Piper Sandler lowered their target price on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Canaccord Genuity Group lowered their price objective on Rapid7 from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their target price on Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, UBS Group dropped their price target on Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.94.

Rapid7 Trading Down 20.9 %

Shares of Rapid7 stock traded down $9.58 during trading on Wednesday, hitting $36.22. 6,997,937 shares of the stock traded hands, compared to its average volume of 782,293. The stock’s fifty day simple moving average is $49.41 and its 200 day simple moving average is $52.81. The firm has a market cap of $2.26 billion, a P/E ratio of -14.51 and a beta of 1.01. Rapid7 has a 52-week low of $35.22 and a 52-week high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.27. The company had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. As a group, equities analysts expect that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the company’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 transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in shares of Rapid7 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after purchasing an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Rapid7 by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock worth $996,000 after buying an additional 344 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rapid7 by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock worth $2,259,000 after acquiring an additional 502 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in shares of Rapid7 by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock valued at $1,289,000 after acquiring an additional 668 shares during the last quarter. 95.66% of the stock is currently 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.