Rapid7 (NASDAQ:RPD) Price Target Cut to $47.00

Rapid7 (NASDAQ:RPD) had its price target trimmed by Mizuho from $62.00 to $47.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

RPD has been the subject of several other research reports. Citigroup raised shares of Rapid7 from a neutral rating to a buy rating and upped their price objective for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. UBS Group upgraded shares of Rapid7 from a neutral rating to a buy rating and boosted their target price for the company from $53.00 to $70.00 in a report on Monday, January 29th. Barclays boosted their target price on shares of Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a report on Thursday, February 8th. StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a report on Wednesday, March 6th. Finally, Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They issued a sector perform rating and a $46.00 target price on the stock. Ten research 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 stock presently has a consensus rating of Hold and a consensus target price of $52.13.

Rapid7 Trading Down 17.0 %

Shares of NASDAQ RPD opened at $38.00 on Wednesday. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88. The stock has a market cap of $2.37 billion, a PE ratio of -15.14 and a beta of 1.01. The company has a 50-day moving average of $49.04 and a 200 day moving average of $52.71.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. On average, sell-side analysts forecast that Rapid7 will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the company. Arizona State Retirement System grew its position in shares of Rapid7 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after buying an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Rapid7 by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock valued at $134,000 after buying an additional 336 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of Rapid7 by 2.0% in the 4th quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock valued at $996,000 after buying an additional 344 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 buying an additional 502 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of Rapid7 by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock valued at $1,289,000 after buying an additional 668 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other 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.