Rapid7 (NASDAQ:RPD) Price Target Raised to $39.00 at DA Davidson

Rapid7 (NASDAQ:RPD) had its target price boosted by DA Davidson from $35.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock. DA Davidson also issued estimates for Rapid7’s Q4 2024 earnings at $0.16 EPS.

RPD has been the topic of several other reports. UBS Group cut their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank cut their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird cut Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus price target of $44.59.

Rapid7 Trading Down 1.8 %

Shares of NASDAQ RPD traded down $0.74 on Thursday, reaching $40.54. 1,005,345 shares of the company traded hands, compared to its average volume of 848,452. The stock has a market capitalization of $2.54 billion, a PE ratio of 64.72 and a beta of 0.96. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The company has a 50 day moving average of $37.97 and a 200 day moving average of $38.79.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.33) earnings per share. As a group, research analysts expect that Rapid7 will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

A number of institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its holdings in shares of Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after buying an additional 2,719,791 shares during the period. Cannae Holdings Inc. acquired a new stake in Rapid7 in the 2nd quarter valued at about $15,130,000. SG Americas Securities LLC boosted its position in shares of Rapid7 by 7,688.6% during the 2nd quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock valued at $7,141,000 after purchasing an additional 163,075 shares in the last quarter. 272 Capital LP acquired a new position in shares of Rapid7 in the 2nd quarter worth approximately $6,979,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Rapid7 in the 2nd quarter worth approximately $6,106,000. 95.66% of the stock is 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.