Stifel Nicolaus Lowers Rapid7 (NASDAQ:RPD) Price Target to $38.00

Rapid7 (NASDAQ:RPD) had its price target cut by Stifel Nicolaus from $42.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 9.48% from the stock’s current price.

Several other research firms have also weighed in on RPD. UBS Group reduced their price objective on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Barclays decreased their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday. Scotiabank raised their target price on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Citigroup decreased their target price on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.35.

Rapid7 Price Performance

Shares of RPD traded down $2.08 during trading hours on Thursday, hitting $34.71. 181,053 shares of the company were exchanged, compared to its average volume of 574,891. The company has a market capitalization of $2.19 billion, a PE ratio of 55.09 and a beta of 0.96. The firm has a fifty day simple moving average of $39.57 and a 200-day simple moving average of $38.87. Rapid7 has a one year low of $32.94 and a one year high of $61.79.

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 128.95% and a net margin of 5.65%. Sell-side analysts expect that Rapid7 will post 0.98 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm’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. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in 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 buying an additional 455 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Rapid7 during the third quarter valued at about $69,000. Finally, KBC Group NV raised its holdings in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares in the last quarter. 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.