Rapid7 (NASDAQ:RPD) PT Lowered to $56.00

Rapid7 (NASDAQ:RPD) had its target price trimmed by Robert W. Baird from $62.00 to $56.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on RPD. StockNews.com downgraded Rapid7 from a buy rating to a hold rating in a report on Wednesday, March 6th. Barclays boosted their price objective on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and set a $70.00 target price on shares of Rapid7 in a report on Thursday, February 8th. Mizuho cut their price target on Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a report on Wednesday. Finally, Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $52.13.

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $38.00 on Wednesday. Rapid7 has a 52-week low of $35.22 and a 52-week high of $61.88. The business has a fifty day moving average of $49.04 and a two-hundred day moving average of $52.71. The stock has a market cap of $2.37 billion, a PE ratio of -15.14 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. Analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares in the company, valued at approximately $13,665,206.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. bought a new position in Rapid7 during the 3rd quarter worth about $255,000. Raymond James & Associates raised its position in Rapid7 by 41.5% in the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock valued at $4,615,000 after buying an additional 29,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rapid7 by 1.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock valued at $2,259,000 after acquiring an additional 502 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Rapid7 by 31.9% in the 3rd quarter. Mackenzie Financial Corp now owns 8,157 shares of the technology company’s stock valued at $369,000 after acquiring an additional 1,971 shares in the last quarter. Finally, Strs Ohio boosted its position in Rapid7 by 100.0% during the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after acquiring an additional 1,300 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.