JPMorgan Chase & Co. Lowers Rapid7 (NASDAQ:RPD) Price Target to $40.00

Rapid7 (NASDAQ:RPD) had its target price decreased by equities researchers at JPMorgan Chase & Co. from $42.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.44% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. UBS Group lowered their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Scotiabank boosted their target price on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average price target of $43.65.

Rapid7 Stock Performance

Rapid7 stock opened at $38.30 on Tuesday. The firm’s 50 day moving average price is $39.80 and its two-hundred day moving average price is $38.89. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 60.79 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88.

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after purchasing an additional 15,287 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock worth $20,920,000 after buying an additional 8,918 shares in the last quarter. Thematics Asset Management lifted its stake in shares of Rapid7 by 33.0% in the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after acquiring an additional 99,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 during the 4th quarter valued at $12,050,000. Finally, Harbor Capital Advisors Inc. grew its position in Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares during the last quarter. 95.66% of the stock is currently 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.