Rapid7 (NASDAQ:RPD) Price Target Cut to $39.00 by Analysts at Robert W. Baird

Rapid7 (NASDAQ:RPD) had its price objective decreased by analysts at Robert W. Baird from $43.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 6.01% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus restated a “hold” rating and issued a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Citigroup lowered their target price on Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Truist Financial reduced their price target on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.18.

Rapid7 Trading Down 3.0 %

Shares of Rapid7 stock opened at $36.79 on Thursday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 58.40 and a beta of 0.96. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The business’s 50 day simple moving average is $39.57 and its 200-day simple moving average is $38.87.

Rapid7 (NASDAQ:RPD) last issued its earnings results 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 128.95% and a net margin of 5.65%. Sell-side analysts predict that Rapid7 will post 0.98 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised 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 in the last quarter. Skandinaviska Enskilda Banken AB publ increased 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 worth $46,000 after buying an additional 455 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after acquiring an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 in the 3rd quarter worth approximately $69,000. Finally, KBC Group NV grew its position in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

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.