Rapid7 (NASDAQ:RPD) Price Target Cut to $49.00 by Analysts at Barclays

Rapid7 (NASDAQ:RPD) had its target price reduced by equities researchers at Barclays from $60.00 to $49.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 35.28% from the stock’s current price.

Several other research firms have also recently commented on RPD. Robert W. Baird reduced their target price on Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial reduced their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday. Scotiabank assumed coverage on shares of Rapid7 in a research report on Friday, April 26th. They issued a “sector perform” rating and a $46.00 target price for the company. Canaccord Genuity Group reduced their price target on shares of Rapid7 from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price objective on Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Rapid7 has an average rating of “Hold” and an average target price of $52.94.

Rapid7 Trading Down 20.9 %

RPD stock traded down $9.58 during trading on Wednesday, reaching $36.22. The stock had a trading volume of 6,997,937 shares, compared to its average volume of 782,293. The firm has a fifty day moving average price of $49.41 and a 200 day moving average price of $52.81. The company has a market capitalization of $2.26 billion, a P/E ratio of -14.51 and a beta of 1.01. Rapid7 has a 1-year low of $35.22 and a 1-year high of $61.88.

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

Insider Buying and Selling

In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction on 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 of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated 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 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

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