Rapid7 (NASDAQ:RPD) Price Target Raised to $42.00 at JPMorgan Chase & Co.

Rapid7 (NASDAQ:RPD) had its target price raised by JPMorgan Chase & Co. from $40.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also commented on RPD. Morgan Stanley reissued an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a report on Wednesday, July 10th. Jefferies Financial Group started coverage on Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Scotiabank reduced their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.59.

Rapid7 Stock Down 1.8 %

NASDAQ:RPD traded down $0.74 on Thursday, hitting $40.54. The stock had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The business’s fifty day moving average is $37.97 and its 200 day moving average is $38.79. The company has a market cap of $2.54 billion, a PE ratio of 64.72 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Equities analysts predict that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now directly owns 17,460 shares in the company, valued at $698,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC grew its holdings in shares of Rapid7 by 4.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 83,181 shares of the technology company’s stock valued at $4,079,000 after purchasing an additional 3,382 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 in the first quarter worth about $83,000. GSA Capital Partners LLP boosted its holdings in Rapid7 by 235.9% during the 1st quarter. GSA Capital Partners LLP now owns 14,714 shares of the technology company’s stock valued at $722,000 after acquiring an additional 10,333 shares during the period. Quantbot Technologies LP bought a new position in Rapid7 during the 1st quarter worth approximately $218,000. Finally, Swiss National Bank increased its stake in Rapid7 by 1.0% in the 1st quarter. Swiss National Bank now owns 121,300 shares of the technology company’s stock worth $5,949,000 after purchasing an additional 1,200 shares during the period. 95.66% of the stock is currently owned by institutional investors.

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.