Jefferies Financial Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $45.00

Rapid7 (NASDAQ:RPD) had its price objective reduced by Jefferies Financial Group from $50.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 22.32% from the stock’s previous close.

A number of other analysts have also issued reports on RPD. DA Davidson boosted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Scotiabank upped their price objective on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research note on Thursday. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.18.

Rapid7 Price Performance

Shares of RPD stock opened at $36.79 on Thursday. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.79. The firm has a market cap of $2.33 billion, a PE ratio of 58.40 and a beta of 0.96. The company has a 50-day moving average of $39.57 and a two-hundred day moving average of $38.87.

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

Insider Activity

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Rapid7 by 30.4% in 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 in the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after acquiring an additional 352 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Rapid7 by 0.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after acquiring an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after acquiring an additional 455 shares during the last quarter. Finally, International Assets Investment Management LLC increased 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 worth $27,000 after purchasing an additional 661 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.