Jefferies Financial Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $13.00

Rapid7 (NASDAQ:RPD) had its price target cut by stock analysts at Jefferies Financial Group from $18.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 21.95% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup lowered shares of Rapid7 from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $15.00 in a report on Monday, January 12th. Morgan Stanley reaffirmed an “outperform” rating and set a $18.00 target price on shares of Rapid7 in a research report on Thursday, December 18th. UBS Group reduced their price target on Rapid7 from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Piper Sandler decreased their price target on Rapid7 from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Finally, Susquehanna set a $15.00 price objective on Rapid7 in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.53.

Rapid7 Stock Performance

Shares of RPD stock opened at $10.66 on Monday. The firm has a market capitalization of $698.02 million, a price-to-earnings ratio of 31.35 and a beta of 0.79. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 7.01. The business’s 50-day moving average price is $14.49 and its 200-day moving average price is $17.37. Rapid7 has a 12 month low of $10.48 and a 12 month high of $39.39.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Rapid7 had a return on equity of 67.30% and a net margin of 2.61%.The company had revenue of $217.96 million during the quarter, compared to the consensus estimate of $216.14 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Rapid7 will post 0.35 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, Director Jana Partners Management, Lp acquired 41,545 shares of Rapid7 stock in a transaction dated Friday, November 28th. The stock was bought at an average price of $15.71 per share, with a total value of $652,671.95. Following the transaction, the director directly owned 6,760,149 shares in the company, valued at $106,201,940.79. This represents a 0.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marc Evan Brown acquired 3,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $15.21 per share, with a total value of $45,630.00. Following the purchase, the director directly owned 51,882 shares in the company, valued at $789,125.22. This represents a 6.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 67,345 shares of company stock valued at $1,025,202 over the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its holdings in shares of Rapid7 by 136.7% in the 2nd quarter. Acadian Asset Management LLC now owns 169,955 shares of the technology company’s stock worth $3,924,000 after purchasing an additional 98,161 shares in the last quarter. Penserra Capital Management LLC increased its stake in Rapid7 by 45.3% during the 2nd quarter. Penserra Capital Management LLC now owns 2,731,192 shares of the technology company’s stock valued at $63,172,000 after purchasing an additional 851,108 shares in the last quarter. CenterBook Partners LP raised its holdings in Rapid7 by 68.9% during the second quarter. CenterBook Partners LP now owns 253,629 shares of the technology company’s stock worth $5,866,000 after buying an additional 103,504 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Rapid7 by 366.2% during the third quarter. Assenagon Asset Management S.A. now owns 144,707 shares of the technology company’s stock worth $2,713,000 after buying an additional 113,664 shares during the last quarter. Finally, DDD Partners LLC bought a new position in shares of Rapid7 in the second quarter valued at $846,000. 95.66% of the stock is owned by institutional investors.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.