Rapid7 (NASDAQ:RPD) Price Target Lowered to $56.00 at Robert W. Baird

Rapid7 (NASDAQ:RPD) had its target price decreased by Robert W. Baird from $62.00 to $56.00 in a research report report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently issued reports on RPD. Royal Bank of Canada restated an outperform rating and set a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Mizuho reduced their price target on shares of Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a research report on Wednesday. Citigroup raised shares of Rapid7 from a neutral rating to a buy rating and raised their price objective for the stock from $54.00 to $65.00 in a research report on Tuesday, January 9th. Scotiabank initiated coverage on shares of Rapid7 in a research note on Friday, April 26th. They set a sector perform rating and a $46.00 target price for the company. Finally, Barclays raised their price target on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Rapid7 currently has an average rating of Hold and a consensus price target of $52.13.

Rapid7 Trading Down 17.0 %

Rapid7 stock opened at $38.00 on Wednesday. The company has a fifty day simple moving average of $49.04 and a 200-day simple moving average of $52.71. The stock has a market cap of $2.37 billion, a P/E ratio of -15.14 and a beta of 1.01. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping 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 return on equity of 1.36% and a negative net margin of 19.19%. As a group, sell-side analysts forecast that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 31,727 shares of the firm’s 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 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 filing with the Securities & Exchange Commission, which is available 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 stock was 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 of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Rapid7

Several large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new position in shares of Rapid7 during the first quarter worth $36,000. Mather Group LLC. purchased a new stake in Rapid7 during the 1st quarter worth $42,000. International Assets Investment Management LLC lifted its holdings in Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after buying an additional 943 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rapid7 in the 1st quarter valued at about $83,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Rapid7 during the fourth quarter valued at about $95,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.