Rapid7 (NASDAQ:RPD) Shares Gap Down to $36.15

Rapid7, Inc. (NASDAQ:RPDGet Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $36.15, but opened at $35.35. Rapid7 shares last traded at $35.72, with a volume of 56,486 shares traded.

Analysts Set New Price Targets

RPD has been the subject of several recent analyst reports. Piper Sandler cut their price objective on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird cut their price objective on shares of Rapid7 from $62.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Scotiabank initiated coverage on shares of Rapid7 in a research report on Friday, April 26th. They set a “sector perform” rating and a $46.00 price objective for the company. Susquehanna cut their price objective on shares of Rapid7 from $55.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, Royal Bank of Canada cut their price objective on shares of Rapid7 from $70.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 presently has an average rating of “Hold” and a consensus price target of $51.73.

Get Our Latest Stock Report on RPD

Rapid7 Stock Up 4.5 %

The business’s fifty day moving average is $42.68 and its two-hundred day moving average is $50.97.

Rapid7 (NASDAQ:RPDGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. Research analysts expect that Rapid7, Inc. will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 completion of the transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares of the company’s stock, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Trading of Rapid7

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Rapid7 by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,041,011 shares of the technology company’s stock worth $322,337,000 after buying an additional 148,440 shares during the last quarter. First Trust Advisors LP raised its position in Rapid7 by 49.2% in the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after purchasing an additional 1,124,429 shares during the last quarter. Hawk Ridge Capital Management LP raised its position in Rapid7 by 757.7% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,592,259 shares of the technology company’s stock valued at $72,894,000 after purchasing an additional 1,406,619 shares during the last quarter. Wasatch Advisors LP raised its position in Rapid7 by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 1,410,051 shares of the technology company’s stock valued at $80,514,000 after purchasing an additional 160,531 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock valued at $61,512,000 after purchasing an additional 397,968 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

About Rapid7

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.