Stifel Nicolaus Trims Rapid7 (NASDAQ:RPD) Target Price to $51.00

Rapid7 (NASDAQ:RPD) had its target price reduced by Stifel Nicolaus from $63.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently weighed in on RPD. Barclays raised their price target on Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. Citigroup upgraded Rapid7 from a neutral rating to a buy rating and raised their price target for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. StockNews.com cut Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Robert W. Baird cut their price target on Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Rapid7 presently has a consensus rating of Hold and a consensus price target of $52.13.

Rapid7 Trading Up 1.7 %

NASDAQ:RPD traded up $0.64 during midday trading on Wednesday, reaching $38.64. The company had a trading volume of 664,287 shares, compared to its average volume of 807,339. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The stock’s fifty day simple moving average is $49.04 and its 200-day simple moving average is $52.71. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88.

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

Insider Buying and Selling

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The stock was 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 approximately $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The stock was 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 approximately $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 sale, 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Rapid7 during the 3rd quarter worth approximately $255,000. Raymond James & Associates raised its position in shares of Rapid7 by 41.5% during the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock worth $4,615,000 after purchasing an additional 29,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rapid7 by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock worth $2,259,000 after purchasing an additional 502 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Rapid7 by 31.9% during the 3rd quarter. Mackenzie Financial Corp now owns 8,157 shares of the technology company’s stock worth $369,000 after purchasing an additional 1,971 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Rapid7 by 100.0% during the 3rd quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other 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.