Rapid7 (NASDAQ:RPD) Price Target Cut to $44.00 by Analysts at Citigroup

Rapid7 (NASDAQ:RPD) had its price target cut by Citigroup from $46.00 to $44.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

RPD has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday. Stifel Nicolaus lowered their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday. Barclays decreased their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday. DA Davidson boosted their price objective on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Scotiabank decreased their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday. Sixteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus price target of $41.22.

Rapid7 Trading Down 5.4 %

Shares of Rapid7 stock opened at $34.82 on Thursday. The firm’s 50 day moving average is $39.39 and its 200 day moving average is $38.84. The firm has a market capitalization of $2.20 billion, a PE ratio of 55.27 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79.

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

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Rapid7 by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after buying an additional 60,095 shares during the period. Geode Capital Management LLC increased its holdings in Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after acquiring an additional 15,287 shares in the last quarter. Legal & General Group Plc raised its stake in Rapid7 by 0.9% during the 4th quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after acquiring an additional 6,269 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rapid7 by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock valued at $20,920,000 after purchasing an additional 8,918 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after purchasing an additional 280,913 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

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.