Barclays Cuts Rapid7 (NASDAQ:RPD) Price Target to $35.00

Rapid7 (NASDAQ:RPD) had its target price decreased by Barclays from $43.00 to $35.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Stifel Nicolaus reissued a “hold” rating and set a $42.00 price objective (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Jefferies Financial Group began coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial dropped their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Piper Sandler reduced their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Stock Up 2.1 %

RPD stock opened at $35.55 on Thursday. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The firm has a market capitalization of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. The stock has a 50-day simple moving average of $39.23 and a two-hundred day simple moving average of $38.81.

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

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Rapid7

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after acquiring an additional 60,095 shares during the period. JANA Partners Management LP lifted its holdings in shares of Rapid7 by 0.9% during the fourth 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 last quarter. Geode Capital Management LLC boosted its position in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after purchasing an additional 15,287 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Rapid7 by 0.9% in the 4th quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after buying an additional 6,269 shares during the last quarter. 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.