Rapid7 (NASDAQ:RPD) Price Target Lowered to $45.00 at Truist Financial

Rapid7 (NASDAQ:RPD) had its price target reduced by investment analysts at Truist Financial from $50.00 to $45.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 9.84% from the company’s current price.

Other research analysts have also issued reports about the company. UBS Group lowered their target price on Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Rapid7 in a report on Thursday, February 8th. Barclays lifted their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Robert W. Baird reduced their price target on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective 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. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.63.

Rapid7 Stock Down 10.5 %

Shares of NASDAQ:RPD traded down $4.83 during trading on Wednesday, hitting $40.97. 902,171 shares of the company were exchanged, compared to its average volume of 708,534. The business’s 50 day moving average is $49.41 and its 200-day moving average is $52.81. The company has a market capitalization of $2.55 billion, a P/E ratio of -16.42 and a beta of 1.01. Rapid7 has a 1-year low of $39.01 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. As a group, sell-side analysts anticipate that Rapid7 will post 0.86 earnings per share for the current year.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the firm’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 transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hawk Ridge Capital Management LP raised its position in shares of Rapid7 by 757.7% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after buying an additional 1,406,619 shares in the last quarter. First Trust Advisors LP raised its position in Rapid7 by 49.2% in the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after purchasing an additional 1,124,429 shares during the period. Norges Bank purchased a new position in Rapid7 in the 4th quarter worth $37,790,000. Mirae Asset Global Investments Co. Ltd. raised its position in Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after purchasing an additional 397,968 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Rapid7 by 40.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,237,023 shares of the technology company’s stock worth $56,631,000 after purchasing an additional 355,192 shares during the period. 95.66% of the stock is owned by institutional investors.

About Rapid7

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.