Rapid7 (NASDAQ:RPD) Price Target Lowered to $26.00 at Barclays

Rapid7 (NASDAQ:RPD) had its price objective trimmed by Barclays from $35.00 to $26.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other research analysts have also issued reports on RPD. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. DA Davidson dropped their price objective on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Stephens began coverage on Rapid7 in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 price objective on the stock. Citigroup decreased their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group cut their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus price target of $38.58.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $23.66 on Monday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 60.67 and a beta of 0.99. The stock has a 50 day moving average price of $29.35 and a 200-day moving average price of $36.39. Rapid7 has a one year low of $22.08 and a one year high of $48.00.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. Sell-side analysts predict that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina Luconi sold 12,551 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the transaction, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. This represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its position in shares of Rapid7 by 13.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 326,454 shares of the technology company’s stock valued at $8,654,000 after purchasing an additional 37,489 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Rapid7 by 19.3% in the first quarter. E. Ohman J or Asset Management AB now owns 41,755 shares of the technology company’s stock worth $1,107,000 after buying an additional 6,755 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Rapid7 by 88.2% in the first quarter. Green Alpha Advisors LLC now owns 26,249 shares of the technology company’s stock worth $696,000 after buying an additional 12,300 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Rapid7 by 2.5% during the first quarter. Rhumbline Advisers now owns 91,191 shares of the technology company’s stock worth $2,417,000 after buying an additional 2,262 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Rapid7 by 2,069.2% during the first quarter. GAMMA Investing LLC now owns 5,488 shares of the technology company’s stock valued at $145,000 after buying an additional 5,235 shares during 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.