Rapid7, Inc. (NASDAQ:RPD) Receives $39.05 Average PT from Brokerages

Rapid7, Inc. (NASDAQ:RPD) has been assigned an average recommendation of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $39.05.

Several brokerages recently issued reports on RPD. Stephens assumed coverage on shares of Rapid7 in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price target for the company. Raymond James decreased their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus dropped their target price on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, February 13th.

Rapid7 Trading Down 7.4 %

Shares of RPD opened at $23.68 on Friday. Rapid7 has a 1-year low of $23.33 and a 1-year high of $50.55. The firm’s 50-day moving average price is $31.79 and its 200-day moving average price is $37.09. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 60.72 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. On average, research analysts forecast that Rapid7 will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in Rapid7 by 100.8% in the 4th quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after buying an additional 37,708 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Rapid7 in the fourth quarter valued at about $539,000. Raymond James Financial Inc. bought a new position in shares of Rapid7 in the fourth quarter worth about $12,050,000. Stifel Financial Corp bought a new position in Rapid7 in the 3rd quarter worth approximately $1,006,000. Finally, Principal Financial Group Inc. boosted its position in shares of Rapid7 by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock worth $2,185,000 after acquiring an additional 6,645 shares during the last quarter. 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.