Rapid7 (NASDAQ:RPD) PT Lowered to $65.00

Rapid7 (NASDAQ:RPD) had its price objective dropped by stock analysts at UBS Group from $70.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price target indicates a potential upside of 71.32% from the stock’s previous close.

Several other analysts have also commented on the stock. Robert W. Baird lowered their price objective on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday. Mizuho dropped their price objective on Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Rapid7 in a research report on Thursday, February 8th. Finally, Citigroup upgraded Rapid7 from a “neutral” rating to a “buy” rating and increased their price target for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $52.13.

Rapid7 Trading Down 0.2 %

Shares of Rapid7 stock opened at $37.94 on Wednesday. The company has a market capitalization of $2.36 billion, a P/E ratio of -15.12 and a beta of 1.01. The stock has a fifty day simple moving average of $48.62 and a 200 day simple moving average of $52.60. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. On average, analysts predict that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Rapid7 in the third quarter worth about $255,000. Raymond James & Associates grew its stake in shares of Rapid7 by 41.5% in the 3rd quarter. Raymond James & Associates now owns 100,806 shares of the technology company’s stock worth $4,615,000 after buying an additional 29,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rapid7 by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,346 shares of the technology company’s stock valued at $2,259,000 after buying an additional 502 shares in the last quarter. Mackenzie Financial Corp raised its stake in Rapid7 by 31.9% during the third quarter. Mackenzie Financial Corp now owns 8,157 shares of the technology company’s stock valued at $369,000 after buying an additional 1,971 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Rapid7 by 100.0% in the third quarter. Strs Ohio now owns 2,600 shares of the technology company’s stock worth $119,000 after acquiring an additional 1,300 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.