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

Rapid7 (NASDAQ:RPD) had its price objective dropped by UBS Group from $70.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 58.65% from the company’s current price.

Other research analysts have also recently issued reports about the company. 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 research report on Tuesday, January 9th. StockNews.com lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Scotiabank began coverage on Rapid7 in a research note on Friday, April 26th. They set a “sector perform” rating and a $46.00 price target on the stock. Mizuho cut their price target on Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Rapid7 in a report on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.63.

Rapid7 Stock Performance

NASDAQ:RPD traded down $4.83 during trading hours on Wednesday, hitting $40.97. 902,171 shares of the company’s stock traded hands, compared to its average volume of 708,534. The firm has a market cap of $2.55 billion, a P/E ratio of -16.42 and a beta of 1.01. Rapid7 has a twelve month low of $39.01 and a twelve month high of $61.88. The stock’s fifty day moving average price is $49.41 and its two-hundred day moving average price is $52.81.

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, topping the consensus estimate 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 company had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. On average, equities research analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insider Activity at Rapid7

In other news, COO Andrew F. Burton sold 31,727 shares of the 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 owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at approximately $13,665,206.58. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the company. Duality Advisers LP bought a new stake in Rapid7 during the 4th quarter worth $235,000. Lisanti Capital Growth LLC acquired a new position in shares of Rapid7 during the fourth quarter valued at about $3,522,000. Tudor Investment Corp Et Al grew its stake in Rapid7 by 46.5% in the third quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company’s stock valued at $6,643,000 after acquiring an additional 46,053 shares during the period. Exchange Traded Concepts LLC increased its stake in Rapid7 by 34.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 10,798 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Rapid7 by 47.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company’s stock worth $3,127,000 after purchasing an additional 22,100 shares in 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.