Rapid7 (NASDAQ:RPD) Price Target Cut to $51.00 by Analysts at Stifel Nicolaus

Rapid7 (NASDAQ:RPD) had its price objective decreased by Stifel Nicolaus from $63.00 to $51.00 in a research report sent to investors on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

RPD has been the subject of a number of other research reports. UBS Group dropped their target price on Rapid7 from $70.00 to $65.00 and set a buy rating for the company in a research report on Wednesday. StockNews.com cut Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Scotiabank assumed coverage on Rapid7 in a research note on Friday, April 26th. They set a sector perform rating and a $46.00 target price on the stock. Mizuho reduced their price target on Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Barclays upped their price target on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 has a consensus rating of Hold and a consensus price target of $52.13.

Rapid7 Stock Performance

NASDAQ RPD traded up $0.64 during trading hours on Wednesday, hitting $38.64. The company had a trading volume of 664,287 shares, compared to its average volume of 807,339. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The firm has a 50 day simple moving average of $49.04 and a 200 day simple moving average of $52.71. Rapid7 has a 52 week low of $35.22 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. The company had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. On average, research analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

Insider Activity at Rapid7

In related news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was 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 of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

Institutional investors have recently made changes to their positions in the business. Hawk Ridge Capital Management LP boosted its stake in Rapid7 by 757.7% during the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after buying an additional 1,406,619 shares during the last quarter. First Trust Advisors LP raised its position in shares of Rapid7 by 49.2% in the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares in the last quarter. Norges Bank bought a new position in shares of Rapid7 in the 4th quarter worth $37,790,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after acquiring an additional 397,968 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Rapid7 by 40.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after acquiring an additional 355,192 shares in the last quarter. 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.