Stifel Nicolaus Cuts Rapid7 (NASDAQ:RPD) Price Target to $38.00

Rapid7 (NASDAQ:RPD) had its price target reduced by research analysts at Stifel Nicolaus from $42.00 to $38.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.89% from the stock’s previous close.

Several other research firms have also issued reports on RPD. UBS Group lowered their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank boosted their price target on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Robert W. Baird decreased their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson upped their target price on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial decreased their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. Sixteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Up 2.1 %

RPD opened at $35.55 on Thursday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The company’s 50-day moving average price is $39.23 and its two-hundred day moving average price is $38.82.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. As a group, sell-side analysts anticipate that Rapid7 will post 0.98 earnings per share for the current year.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

A number of institutional investors have recently made changes to their positions in RPD. International Assets Investment Management LLC boosted its position in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. boosted its position in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 during the 3rd quarter valued at $69,000. Finally, Ostrum Asset Management boosted its position in Rapid7 by 45.3% during 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 period. 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.