Raymond James Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its target price decreased by Raymond James from $55.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target points to a potential upside of 29.39% from the company’s current price.

RPD has been the subject of a number of other reports. Piper Sandler lowered their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. DA Davidson lifted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Thursday. Jefferies Financial Group dropped their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. Finally, UBS Group reduced their price objective on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.56.

Rapid7 Stock Down 5.5 %

RPD stock traded down $2.01 during mid-day trading on Thursday, hitting $34.78. 749,710 shares of the company were exchanged, compared to its average volume of 592,303. The business has a fifty day simple moving average of $39.57 and a 200-day simple moving average of $38.87. The firm has a market capitalization of $2.20 billion, a P/E ratio of 55.10 and a beta of 0.96. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.79.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Research analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

Large investors have recently bought and sold shares of the business. Creative Planning purchased a new stake in shares of Rapid7 in the third quarter valued at about $253,000. Tempus Wealth Planning LLC purchased a new stake in Rapid7 during the 3rd quarter valued at approximately $264,000. International Assets Investment Management LLC lifted its position in Rapid7 by 3,888.2% during 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. Assenagon Asset Management S.A. purchased a new position in shares of Rapid7 in the 3rd quarter valued at approximately $948,000. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the period. 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.