Robert W. Baird Lowers Rapid7 (NASDAQ:RPD) Price Target to $39.00

Rapid7 (NASDAQ:RPD) had its price objective lowered by stock analysts at Robert W. Baird from $43.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 9.70% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Truist Financial dropped their price target on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Piper Sandler dropped their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, UBS Group dropped their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Sixteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Up 2.1 %

Shares of RPD opened at $35.55 on Thursday. The firm has a 50-day moving average price of $39.23 and a 200 day moving average price of $38.82. The firm has a market capitalization of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.79.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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%. On average, equities analysts expect that Rapid7 will post 0.98 EPS for the current year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently bought and sold shares of RPD. International Assets Investment Management LLC boosted its holdings in Rapid7 by 3,888.2% in 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. Skandinaviska Enskilda Banken AB publ boosted its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Rapid7 in the third quarter worth $69,000. Finally, Ostrum Asset Management boosted its holdings in Rapid7 by 45.3% in the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after purchasing an additional 772 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.