Rapid7 (NASDAQ:RPD) Price Target Lowered to $52.00 at UBS Group

Rapid7 (NASDAQ:RPD) had its price target lowered by UBS Group from $59.00 to $52.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, Piper Sandler decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Down 1.8 %

Shares of Rapid7 stock traded down $0.74 during trading on Thursday, reaching $40.54. 1,005,345 shares of the stock were exchanged, compared to its average volume of 848,452. The stock’s fifty day moving average is $37.97 and its 200 day moving average is $38.79. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 64.72 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The company had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same period in the prior year, the business posted ($0.33) earnings per share. Rapid7’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that Rapid7 will post 0.8 earnings per share for the current year.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Rapid7 during the 2nd quarter worth about $35,000. Summit Securities Group LLC purchased a new position in shares of Rapid7 during the 2nd quarter worth about $43,000. Financial Connections Group Inc. purchased a new position in shares of Rapid7 during the 2nd quarter worth about $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 during the 1st quarter worth about $83,000. 95.66% of the stock is currently owned by institutional investors.

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.