Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at UBS Group

Rapid7 (NASDAQ:RPD) had its price objective decreased by research analysts at UBS Group from $52.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective suggests a potential upside of 26.58% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday. Jefferies Financial Group dropped their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler dropped their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Citigroup dropped their price target on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Sixteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Up 2.1 %

Shares of RPD stock opened at $35.55 on Thursday. The company’s fifty day simple moving average is $39.23 and its 200-day simple moving average is $38.82. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79. The company has a market cap of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Equities research analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Activity

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. International Assets Investment Management LLC lifted its stake 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 acquiring an additional 661 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after acquiring an additional 455 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after acquiring an additional 347 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the 3rd quarter worth approximately $69,000. Finally, Ostrum Asset Management lifted its stake in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

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.