Jefferies Financial Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $35.00

Rapid7 (NASDAQ:RPD) had its price target dropped by equities researchers at Jefferies Financial Group from $45.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 30.69% from the company’s previous close.

A number of other equities analysts have also recently issued reports on RPD. Morgan Stanley assumed coverage on shares of Rapid7 in a research note on Tuesday, March 18th. They issued an “equal weight” rating and a $33.00 price objective on the stock. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Stifel Nicolaus decreased their price objective on Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Finally, DA Davidson reduced their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Sixteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus price target of $39.05.

Rapid7 Stock Up 1.0 %

RPD stock opened at $26.78 on Monday. Rapid7 has a twelve month low of $25.98 and a twelve month high of $50.55. The company has a market cap of $1.71 billion, a P/E ratio of 68.67 and a beta of 0.92. The business has a fifty day moving average of $32.60 and a 200-day moving average of $37.27.

Rapid7 (NASDAQ:RPD) last announced 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 negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after purchasing an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares in the last quarter. Ostrum Asset Management increased its stake in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after buying an additional 772 shares during the last quarter. Finally, KBC Group NV lifted its position in Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares in the last quarter. 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.