Rapid7 (NASDAQ:RPD) Price Target Lowered to $65.00 at UBS Group

Rapid7 (NASDAQ:RPD) had its price objective cut by UBS Group from $70.00 to $65.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on RPD. JPMorgan Chase & Co. dropped their price target on Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a report on Thursday, February 8th. Mizuho dropped their target price on Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a report on Wednesday. Robert W. Baird decreased their price target on shares of Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a research note on Wednesday. Citigroup raised shares of 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. Finally, Royal Bank of Canada reissued an outperform rating and set a $70.00 price target on shares of Rapid7 in a research report on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $52.13.

Rapid7 Price Performance

RPD stock opened at $38.00 on Wednesday. Rapid7 has a one year low of $35.22 and a one year high of $61.88. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The company has a fifty day moving average price of $49.04 and a two-hundred day moving average price of $52.71.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The business had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Research analysts anticipate 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 company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. 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

A number of hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in shares of Rapid7 during the first quarter valued at approximately $36,000. Mather Group LLC. purchased a new position in Rapid7 during the 1st quarter worth $42,000. International Assets Investment Management LLC boosted its holdings in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after acquiring an additional 943 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of Rapid7 in the 4th quarter worth $95,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Rapid7 in the first quarter valued at about $83,000. Institutional investors and hedge funds 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.