Rapid7 (NASDAQ:RPD) PT Lowered to $45.00 at Piper Sandler

Rapid7 (NASDAQ:RPD) had its price objective dropped by analysts at Piper Sandler from $56.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 20.71% from the stock’s current price.

RPD has been the topic of a number of other research reports. StockNews.com downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Stifel Nicolaus dropped their price target on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays raised their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. UBS Group dropped their price objective on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.44.

Rapid7 Stock Down 18.6 %

Shares of Rapid7 stock traded down $8.52 during trading on Wednesday, reaching $37.28. The company’s stock had a trading volume of 4,016,840 shares, compared to its average volume of 749,670. Rapid7 has a 52-week low of $36.26 and a 52-week high of $61.88. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -15.18 and a beta of 1.01. The firm’s 50-day moving average is $49.41 and its two-hundred day moving average is $52.81.

Rapid7 (NASDAQ:RPD) last issued 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. The company had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. On average, equities research analysts anticipate that Rapid7 will post 0.86 EPS for the current year.

Insider Activity

In related news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,683,751.89. Following the completion of the sale, 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

Several hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new position in shares of Rapid7 during the 1st quarter valued at approximately $36,000. Mather Group LLC. purchased a new position in shares of Rapid7 during the 1st quarter valued at approximately $42,000. International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after buying an additional 943 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 during the 1st quarter valued at approximately $83,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Rapid7 during the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors 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.