Barclays Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective cut by investment analysts at Barclays from $43.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential downside of 4.87% from the stock’s current price.

RPD has been the topic of several other reports. Piper Sandler dropped their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. DA Davidson lifted their price target on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus restated a “hold” rating and set a $42.00 price objective (down from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Jefferies Financial Group started coverage on shares of Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Scotiabank boosted their target price on shares of Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.18.

Rapid7 Price Performance

RPD opened at $36.79 on Thursday. The stock has a market cap of $2.33 billion, a P/E ratio of 58.40 and a beta of 0.96. The firm has a fifty day moving average price of $39.57 and a 200 day moving average price of $38.87. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. Equities analysts expect that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning acquired a new stake in shares of Rapid7 in the third quarter valued at $253,000. Tempus Wealth Planning LLC purchased a new stake in Rapid7 during the third quarter worth about $264,000. International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Rapid7 during the third quarter worth about $948,000. Finally, 1620 Investment Advisors Inc. boosted its stake in shares of Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.