Rapid7 (NASDAQ:RPD) Price Target Lowered to $49.00 at Barclays

Rapid7 (NASDAQ:RPD) had its price objective lowered by Barclays from $60.00 to $49.00 in a research report report published on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

RPD has been the subject of several other research reports. Citigroup upgraded shares of Rapid7 from a neutral rating to a buy rating and raised their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Truist Financial reduced their target price on shares of Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday. UBS Group reduced their target price on shares of Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday. Mizuho reduced their target price on shares of Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their target price on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $52.13.

Rapid7 Trading Up 1.7 %

Shares of Rapid7 stock traded up $0.64 during mid-day trading on Wednesday, reaching $38.64. 664,287 shares of the stock were exchanged, compared to its average volume of 807,339. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The firm has a 50-day simple moving average of $49.04 and a 200 day simple moving average of $52.71. Rapid7 has a fifty-two week low of $35.22 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. On average, research analysts predict that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction that occurred 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 transaction, the chief operating officer now 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 SEC, which is accessible through this link. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction that occurred 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 transaction, the chief operating officer now 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 SEC, which is accessible through this link. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Rapid7 by 2.2% in the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock valued at $322,337,000 after purchasing an additional 148,440 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after purchasing an additional 1,124,429 shares during the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Rapid7 by 757.7% in the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after purchasing an additional 1,406,619 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Rapid7 by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after purchasing an additional 160,531 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rapid7 by 46.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after purchasing an additional 397,968 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.