Stifel Nicolaus Lowers Rapid7 (NASDAQ:RPD) Price Target to $38.00

Rapid7 (NASDAQ:RPD) had its price target cut by stock analysts at Stifel Nicolaus from $42.00 to $38.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 9.48% from the stock’s previous close.

A number of other research firms also recently commented on RPD. JPMorgan Chase & Co. reduced their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays reduced their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday. DA Davidson increased their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler reduced their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Citigroup reduced their target price on Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and an average target price of $41.35.

Rapid7 Price Performance

RPD traded down $2.08 on Thursday, reaching $34.71. The company’s stock had a trading volume of 181,053 shares, compared to its average volume of 574,891. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 55.09 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The business’s 50 day moving average is $39.57 and its 200 day moving average is $38.87.

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

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

Institutional Trading of Rapid7

Several large investors have recently added to or reduced their stakes in RPD. Raymond James Financial Inc. acquired a new position in shares of Rapid7 during the 4th quarter valued at $12,050,000. Harbor Capital Advisors Inc. increased its position in shares of Rapid7 by 259.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the period. Invenomic Capital Management LP acquired a new position in shares of Rapid7 during the 3rd quarter valued at $6,647,000. Birnam Oak Advisors LP acquired a new position in shares of Rapid7 during the 4th quarter valued at $4,425,000. Finally, Thematics Asset Management increased its position in shares of Rapid7 by 33.0% during the 3rd quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after purchasing an additional 99,000 shares during the period. 95.66% of the stock is currently 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.