Rapid7 (NASDAQ:RPD) Price Target Cut to $35.00 by Analysts at Jefferies Financial Group

Rapid7 (NASDAQ:RPD) had its target price decreased by Jefferies Financial Group from $45.00 to $35.00 in a research report report published on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Several other research firms have also commented on RPD. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Barclays cut their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Raymond James cut their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group lowered their target price on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus price target of $39.39.

Rapid7 Stock Down 3.9 %

Rapid7 stock opened at $26.51 on Monday. Rapid7 has a 52-week low of $25.98 and a 52-week high of $50.55. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 67.97 and a beta of 0.92. The firm’s fifty day moving average is $32.85 and its 200 day moving average is $37.33.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, equities research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 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 in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after acquiring an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the last quarter. Ostrum Asset Management grew its holdings in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after buying an additional 772 shares in the last quarter. KBC Group NV lifted its stake in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC purchased a new stake in Rapid7 during the 4th quarter valued at about $201,000. 95.66% of the stock is owned by institutional investors and hedge funds.

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.