Truist Financial Cuts Rapid7 (NASDAQ:RPD) Price Target to $38.00

Rapid7 (NASDAQ:RPD) had its target price reduced by Truist Financial from $40.00 to $38.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other research firms have also commented on RPD. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Scotiabank decreased their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Robert W. Baird lowered shares of Rapid7 from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $45.00 in a research note on Thursday, August 1st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Trading Down 1.8 %

Shares of RPD stock opened at $40.54 on Thursday. The company has a market cap of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. The company’s fifty day simple moving average is $38.02 and its 200-day simple moving average is $38.71. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

Insider Activity at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

A number of institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its position 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 purchasing an additional 661 shares during the period. Quest Partners LLC bought a new position in Rapid7 during the 2nd quarter worth $35,000. Summit Securities Group LLC bought a new position in Rapid7 during the 2nd quarter worth $43,000. Financial Connections Group Inc. bought a new stake in Rapid7 in the second quarter valued at $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Rapid7 during the first quarter valued at $83,000. 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.