Rapid7, Inc. (NASDAQ:RPD) Receives $37.32 Consensus Target Price from Brokerages

Shares of Rapid7, Inc. (NASDAQ:RPD) have earned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $37.32.

Several brokerages recently weighed in on RPD. Raymond James dropped their price target on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Robert W. Baird cut their target price on Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Scotiabank lowered their price target on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group cut their price objective on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, March 31st.

Rapid7 Stock Down 0.9 %

Shares of NASDAQ:RPD opened at $23.41 on Tuesday. Rapid7 has a twelve month low of $21.61 and a twelve month high of $46.84. The stock’s 50 day moving average is $26.22 and its 200-day moving average is $34.99. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 60.03 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Equities research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. This trade represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of the business. Shapiro Capital Management LLC grew its stake in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after buying an additional 964,899 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Rapid7 by 95.8% in the first quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company’s stock worth $49,841,000 after acquiring an additional 919,955 shares during the period. Estuary Capital Management LP purchased a new position in shares of Rapid7 in the fourth quarter valued at $20,714,000. Dendur Capital LP purchased a new position in shares of Rapid7 in the fourth quarter valued at $19,190,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Rapid7 during the 4th quarter valued at $12,050,000. 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.