DA Davidson Lowers Rapid7 (NASDAQ:RPD) Price Target to $29.00

Rapid7 (NASDAQ:RPD) had its target price cut by investment analysts at DA Davidson from $35.00 to $29.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential downside of 0.68% from the company’s previous close.

Several other equities analysts have also commented on the company. Robert W. Baird lowered their target price on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Barclays dropped their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group reduced their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Fifteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $39.94.

Rapid7 Trading Down 0.9 %

Shares of NASDAQ RPD opened at $29.20 on Tuesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 74.87 and a beta of 0.92. Rapid7 has a twelve month low of $26.77 and a twelve month high of $50.55. The business has a 50 day simple moving average of $33.55 and a 200-day simple moving average of $37.44.

Rapid7 (NASDAQ:RPD) last issued its earnings results 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 130.41% and a net margin of 3.46%. As a group, equities analysts predict that Rapid7 will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’s 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 transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently modified their holdings of the stock. CSS LLC IL purchased a new stake in Rapid7 during the fourth quarter valued at about $837,000. Vident Advisory LLC raised its holdings in shares of Rapid7 by 47.7% during the fourth quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock valued at $1,360,000 after acquiring an additional 10,923 shares during the period. Two Sigma Advisers LP lifted its position in shares of Rapid7 by 87.7% in the 4th quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock valued at $430,000 after acquiring an additional 5,000 shares in the last quarter. Two Sigma Investments LP boosted its stake in Rapid7 by 48.7% in the 4th quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock worth $5,719,000 after purchasing an additional 46,567 shares during the period. Finally, Shapiro Capital Management LLC grew its position in Rapid7 by 295.9% during the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after purchasing an additional 964,899 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.