Rapid7 (NASDAQ:RPD) Price Target Lowered to $29.00 at Stifel Nicolaus

Rapid7 (NASDAQ:RPD) had its price objective reduced by Stifel Nicolaus from $38.00 to $29.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Rapid7 from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday. Mizuho set a $30.00 target price on shares of Rapid7 in a research note on Wednesday, April 16th. Morgan Stanley cut their price target on shares of Rapid7 from $33.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Piper Sandler cut their price target on shares of Rapid7 from $35.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Truist Financial cut their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rapid7 has an average rating of “Hold” and a consensus price target of $33.53.

Rapid7 Price Performance

RPD opened at $24.56 on Tuesday. The firm has a fifty day moving average price of $25.52 and a 200 day moving average price of $34.15. Rapid7 has a 1 year low of $21.61 and a 1 year high of $44.48. The stock has a market cap of $1.58 billion, a P/E ratio of 62.97 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The firm had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Rapid7 will post 0.35 EPS for the current year.

Insider Activity

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the transaction, the insider now owns 58,165 shares of the company’s stock, valued at $1,344,774.80. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new position in Rapid7 in the fourth quarter valued at about $539,000. Raymond James Financial Inc. acquired a new position in Rapid7 in the fourth quarter valued at about $12,050,000. Principal Financial Group Inc. lifted its position in Rapid7 by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after buying an additional 6,645 shares during the last quarter. Invesco Ltd. lifted its position in Rapid7 by 5.4% in the fourth quarter. Invesco Ltd. now owns 36,487 shares of the technology company’s stock valued at $1,468,000 after buying an additional 1,860 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rapid7 by 17.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,900 shares of the technology company’s stock valued at $358,000 after buying an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.