Rapid7 (NASDAQ:RPD) Given New $45.00 Price Target at UBS Group

Rapid7 (NASDAQ:RPD) had its price objective decreased by UBS Group from $52.00 to $45.00 in a research report report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the technology company’s stock.

RPD has been the subject of a number of other research reports. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Scotiabank raised their price objective on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. 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. Finally, Truist Financial cut their price target on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. Sixteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Trading Up 2.1 %

Shares of Rapid7 stock opened at $35.55 on Thursday. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The company has a market cap of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96. The stock has a 50-day moving average price of $39.23 and a 200 day moving average price of $38.81.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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%. On average, equities analysts forecast that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of 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. Skandinaviska Enskilda Banken AB publ lifted its stake in Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. lifted its stake in Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Rapid7 during the 3rd quarter valued at $69,000. Finally, Ostrum Asset Management lifted its stake in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.