Rapid7 (NASDAQ:RPD) Price Target Cut to $52.00

Rapid7 (NASDAQ:RPD) had its target price decreased by Citigroup from $65.00 to $52.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

RPD has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on shares of Rapid7 from $70.00 to $57.00 and set an outperform rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Scotiabank started coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Rapid7 from $63.00 to $51.00 and set a buy rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Rapid7 currently has a consensus rating of Hold and a consensus target price of $52.13.

Rapid7 Trading Up 1.7 %

Rapid7 stock traded up $0.64 during mid-day trading on Wednesday, reaching $38.64. The company had a trading volume of 664,287 shares, compared to its average volume of 807,339. Rapid7 has a fifty-two week low of $35.22 and a fifty-two week high of $61.88. The company has a market cap of $2.41 billion, a P/E ratio of -15.14 and a beta of 1.01. The business has a fifty day simple moving average of $49.04 and a 200 day simple moving average of $52.71.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Research analysts forecast that Rapid7 will post 0.86 EPS for the current year.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through the SEC website. In related news, COO Andrew F. Burton sold 31,727 shares of the company’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 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 approximately $13,665,206.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of the company’s 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 sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Fidelis Capital Partners LLC bought a new position in shares of Rapid7 in the 1st quarter worth $36,000. Mather Group LLC. purchased a new stake in shares of Rapid7 in the 1st quarter valued at $42,000. International Assets Investment Management LLC boosted its position in 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 buying an additional 943 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Rapid7 during the 1st quarter valued at $83,000. Finally, Financial Connections Group Inc. purchased a new stake in Rapid7 during the 4th quarter valued at $95,000. Institutional investors 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.