Robert W. Baird Issues Pessimistic Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price target decreased by investment analysts at Robert W. Baird from $43.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 6.01% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. DA Davidson raised their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Scotiabank upped their price target on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Truist Financial cut their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus target price of $42.18.

Rapid7 Trading Down 3.0 %

Shares of RPD opened at $36.79 on Thursday. The company’s 50 day simple moving average is $39.57 and its 200-day simple moving average is $38.87. The firm has a market cap of $2.33 billion, a PE ratio of 58.40 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 announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. As a group, equities research analysts forecast that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $3,938,000.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently made changes to their positions in RPD. Creative Planning bought a new stake in shares of Rapid7 in the third quarter worth $253,000. Tempus Wealth Planning LLC acquired a new position in Rapid7 during the 3rd quarter worth $264,000. International Assets Investment Management LLC increased its position 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 purchasing an additional 661 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Rapid7 in the 3rd quarter valued at about $948,000. Finally, 1620 Investment Advisors Inc. lifted its position in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

About Rapid7

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.