Stifel Nicolaus Cuts Rapid7 (NASDAQ:RPD) Price Target to $51.00

Rapid7 (NASDAQ:RPD) had its price objective reduced by Stifel Nicolaus from $63.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 24.48% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on RPD. UBS Group decreased their price objective on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th. Mizuho cut their target price on shares of Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. Scotiabank started coverage on shares of Rapid7 in a research note on Friday, April 26th. They set a “sector perform” rating and a $46.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.63.

Rapid7 Trading Down 10.5 %

Shares of Rapid7 stock traded down $4.83 on Wednesday, hitting $40.97. 902,171 shares of the company traded hands, compared to its average volume of 708,534. The firm’s 50-day simple moving average is $49.41 and its 200 day simple moving average is $52.81. The company has a market cap of $2.55 billion, a P/E ratio of -16.42 and a beta of 1.01. Rapid7 has a 12-month low of $39.01 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $201.52 million. Analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 completion of the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the company’s 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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Rapid7 by 80.5% in the first quarter. Russell Investments Group Ltd. now owns 3,068 shares of the technology company’s stock valued at $150,000 after acquiring an additional 1,368 shares during the period. Headlands Technologies LLC increased its holdings in shares of Rapid7 by 99.2% during the 1st quarter. Headlands Technologies LLC now owns 4,267 shares of the technology company’s stock valued at $209,000 after purchasing an additional 2,125 shares in the last quarter. Swiss National Bank lifted its stake in shares of Rapid7 by 1.0% in the 1st quarter. Swiss National Bank now owns 121,300 shares of the technology company’s stock valued at $5,949,000 after purchasing an additional 1,200 shares during the period. Quantbot Technologies LP acquired a new stake in Rapid7 during the first quarter valued at $218,000. Finally, GSA Capital Partners LLP increased its holdings in Rapid7 by 235.9% in the first quarter. GSA Capital Partners LLP now owns 14,714 shares of the technology company’s stock valued at $722,000 after buying an additional 10,333 shares in 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.