Mizuho Trims Rapid7 (NASDAQ:RPD) Target Price to $47.00

Rapid7 (NASDAQ:RPD) had its price target reduced by stock analysts at Mizuho from $62.00 to $47.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Mizuho’s target price would suggest a potential upside of 2.62% from the stock’s current price.

RPD has been the topic of several other research reports. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.00 to $70.00 in a report on Monday, January 29th. StockNews.com cut shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Scotiabank initiated coverage on shares of Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. Finally, Citigroup upgraded shares of Rapid7 from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.31.

Rapid7 Stock Performance

NASDAQ RPD opened at $45.80 on Wednesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -18.25 and a beta of 1.01. The firm has a 50 day simple moving average of $49.41 and a 200-day simple moving average of $52.81. Rapid7 has a one year low of $39.49 and a one year high of $61.88.

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

Insider Transactions at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on 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 transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on 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 directly owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the business’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 completion of the transaction, the chief operating officer now directly 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 Trading of Rapid7

Several hedge funds have recently made changes to their positions in RPD. Hawk Ridge Capital Management LP raised its holdings in Rapid7 by 757.7% during the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after purchasing an additional 1,406,619 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after buying an additional 1,124,429 shares in the last quarter. Norges Bank acquired a new stake in shares of Rapid7 in the 4th quarter valued at approximately $37,790,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapid7 by 46.5% in the 1st 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 buying an additional 397,968 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Rapid7 by 40.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock valued at $56,631,000 after buying an additional 355,192 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.