Analysts Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $51.73

Shares of Rapid7, Inc. (NASDAQ:RPD) have earned an average rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $51.73.

A number of brokerages recently commented on RPD. Stifel Nicolaus decreased their price target on shares of Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. UBS Group cut their price target on shares of Rapid7 from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada cut their price target on shares of Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Robert W. Baird cut 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, May 8th. Finally, Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price target for the company.

Rapid7 Price Performance

Shares of NASDAQ:RPD opened at $36.61 on Friday. The company’s 50-day moving average price is $41.36 and its two-hundred day moving average price is $50.37. Rapid7 has a one year low of $35.08 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The company had revenue of $205.10 million for the quarter, compared to analyst estimates of $204.10 million. As a group, equities analysts predict that Rapid7 will post 0.74 EPS for the current year.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of the 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 sale, the chief operating officer now directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Rapid7 by 2.2% in the third quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after purchasing an additional 148,440 shares during the period. First Trust Advisors LP grew its holdings in Rapid7 by 49.2% in the fourth 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. Hawk Ridge Capital Management LP grew its holdings in Rapid7 by 757.7% in the third quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock worth $72,894,000 after purchasing an additional 1,406,619 shares during the period. Wasatch Advisors LP grew its holdings in Rapid7 by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock worth $80,514,000 after purchasing an additional 160,531 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapid7 by 46.5% in the first 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. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.