Rapid7, Inc. (NASDAQ:RPD) Receives $43.65 Consensus Target Price from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the firm, MarketBeat reports. Fifteen equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $41.22.

A number of equities analysts have recently weighed in on RPD shares. Robert W. Baird cut their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler dropped their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. UBS Group cut their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday. Finally, Jefferies Financial Group cut their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Rapid7 during the 4th quarter valued at about $225,000. One68 Global Capital LLC acquired a new position in Rapid7 during the 4th quarter valued at about $201,000. JANA Partners Management LP lifted its position in Rapid7 by 0.9% during the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after purchasing an additional 34,589 shares during the period. Northern Trust Corp lifted its position in Rapid7 by 8.0% during the 4th quarter. Northern Trust Corp now owns 624,936 shares of the technology company’s stock valued at $25,141,000 after purchasing an additional 46,351 shares during the period. Finally, Quarry LP acquired a new position in Rapid7 during the 4th quarter valued at about $877,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Trading Up 2.1 %

RPD stock opened at $35.55 on Thursday. The company has a market cap of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79. The company’s 50-day moving average price is $39.23 and its 200 day moving average price is $38.81.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. On average, equities research analysts expect that Rapid7 will post 0.98 earnings per share for the current year.

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.