Robert W. Baird Trims Rapid7 (NASDAQ:RPD) Target Price to $56.00

Rapid7 (NASDAQ:RPD) had its price target decreased by analysts at Robert W. Baird from $62.00 to $56.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 22.27% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and raised their target price for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. Mizuho reduced their price target on Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday. Scotiabank assumed coverage on Rapid7 in a research report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price objective on the stock. Finally, UBS Group raised shares of Rapid7 from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.31.

Rapid7 Price Performance

Shares of RPD opened at $45.80 on Wednesday. Rapid7 has a one year low of $39.49 and a one year high of $61.88. The business has a fifty day moving average of $49.41 and a 200 day moving average of $52.81. The firm has a market capitalization of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Analysts expect that Rapid7 will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its stake in shares of Rapid7 by 1.9% during the third quarter. Arizona State Retirement System now owns 17,184 shares of the technology company’s stock valued at $787,000 after buying an additional 320 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Rapid7 by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after purchasing an additional 336 shares during the period. Natixis Advisors L.P. lifted its position in shares of Rapid7 by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 17,446 shares of the technology company’s stock worth $996,000 after purchasing an additional 344 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Rapid7 by 1.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock valued at $2,259,000 after purchasing an additional 502 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its stake in Rapid7 by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 28,167 shares of the technology company’s stock worth $1,289,000 after acquiring an additional 668 shares in the last quarter. Hedge funds and other institutional investors 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.