Brokerages Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $39.05

Rapid7, Inc. (NASDAQ:RPD) has earned a consensus rating of “Hold” from the twenty-two research firms that are presently covering the firm, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $39.05.

RPD has been the subject of a number of recent research reports. Scotiabank cut their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut 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. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Citigroup cut their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Barclays decreased their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th.

Rapid7 Trading Down 8.0 %

Rapid7 stock opened at $22.77 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 58.38 and a beta of 0.99. Rapid7 has a 12 month low of $22.08 and a 12 month high of $50.40. The stock’s 50 day moving average is $29.97 and its 200-day moving average is $36.58.

Rapid7 (NASDAQ:RPD) last issued 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 3.46% and a negative return on equity of 130.41%. As a group, equities research analysts predict that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction 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 $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in shares of Rapid7 by 5,311.1% during the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,434 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings 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 buying an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after acquiring an additional 347 shares during the last quarter. Ostrum Asset Management grew its position in shares of Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after acquiring an additional 772 shares during the period. Finally, KBC Group NV increased its stake in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after purchasing an additional 867 shares during the last quarter. 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.