Rapid7 (NASDAQ:RPD) Price Target Cut to $29.00 by Analysts at DA Davidson

Rapid7 (NASDAQ:RPD) had its target price cut by DA Davidson from $35.00 to $29.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Truist Financial lowered their price objective on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Barclays reduced their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Morgan Stanley started coverage on Rapid7 in a research note on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.94.

Rapid7 Trading Down 0.7 %

Rapid7 stock opened at $29.48 on Tuesday. The firm has a market cap of $1.89 billion, a P/E ratio of 75.59 and a beta of 0.92. Rapid7 has a 1-year low of $26.77 and a 1-year high of $50.55. The firm has a 50-day moving average of $33.76 and a 200-day moving average of $37.49.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Research analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Rapid7

A number of institutional investors have recently made changes to their positions in RPD. CSS LLC IL purchased a new position in shares of Rapid7 in the 4th quarter worth $837,000. Vident Advisory LLC lifted its holdings in Rapid7 by 47.7% in the fourth quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock valued at $1,360,000 after acquiring an additional 10,923 shares during the period. Two Sigma Advisers LP boosted its position in Rapid7 by 87.7% in the fourth quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock worth $430,000 after purchasing an additional 5,000 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Rapid7 by 48.7% during the 4th quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock valued at $5,719,000 after purchasing an additional 46,567 shares during the period. Finally, Shapiro Capital Management LLC increased its position in shares of Rapid7 by 295.9% during the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after purchasing an additional 964,899 shares during 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.