Rapid7 (NASDAQ:RPD) Price Target Lowered to $56.00 at Robert W. Baird

Rapid7 (NASDAQ:RPD) had its price objective dropped by analysts at Robert W. Baird from $62.00 to $56.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 22.27% from the stock’s current price.

RPD has been the topic of several other research reports. JPMorgan Chase & Co. lowered their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Mizuho reduced their price target on shares of Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays upped their target price on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and raised their price target for the company from $53.00 to $70.00 in a report on Monday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $55.31.

Rapid7 Trading Down 0.9 %

RPD stock opened at $45.80 on Wednesday. The firm has a market cap of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01. Rapid7 has a 1-year low of $39.49 and a 1-year high of $61.88. The business’s 50 day moving average is $49.41 and its 200-day moving average is $52.81.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Sell-side analysts forecast that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief operating officer now 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. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently made changes to their positions in RPD. Fidelis Capital Partners LLC acquired a new stake in Rapid7 in the first quarter valued at $36,000. Mather Group LLC. bought a new stake in shares of Rapid7 in the 1st quarter valued at about $42,000. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Rapid7 during the first quarter worth about $83,000. Finally, Financial Connections Group Inc. bought a new position in Rapid7 during the fourth quarter worth about $95,000. 95.66% of the stock is owned by institutional investors.

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.