Rapid7 (NASDAQ:RPD) Given New $35.00 Price Target at Barclays

Rapid7 (NASDAQ:RPD) had its price target decreased by Barclays from $43.00 to $35.00 in a report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Several other research analysts have also recently commented on the stock. Robert W. Baird lowered their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday. Piper Sandler lowered their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Scotiabank increased their price objective on Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Down 5.4 %

Shares of NASDAQ RPD opened at $34.82 on Thursday. The stock has a market cap of $2.20 billion, a P/E ratio of 55.27 and a beta of 0.96. The business’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $38.84. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.79.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in RPD. International Assets Investment Management LLC grew its stake 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 valued at $27,000 after purchasing an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of 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 last quarter. Pacer Advisors Inc. lifted its holdings in shares of 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 purchased a new position in Rapid7 in the 3rd quarter valued at $69,000. Finally, KBC Group NV increased its stake in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after buying an additional 867 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Company Profile

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.