Rapid7 (NASDAQ:RPD) Price Target Lowered to $30.00 at Citigroup

Rapid7 (NASDAQ:RPD) had its price objective trimmed by Citigroup from $35.00 to $30.00 in a research note released on Monday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Mizuho dropped their price target on Rapid7 from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Barclays lowered their target price on Rapid7 from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 13th. Jefferies Financial Group set a $27.00 target price on Rapid7 and gave the company a “buy” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their target price on Rapid7 from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Finally, Scotiabank set a $20.00 target price on Rapid7 and gave the company a “sector perform” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $26.89.

Rapid7 Trading Up 0.9%

RPD stock opened at $21.46 on Monday. Rapid7 has a 1-year low of $17.83 and a 1-year high of $44.48. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 52.34 and a beta of 0.96. The business has a 50 day simple moving average of $22.53 and a two-hundred day simple moving average of $25.55.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.14. Rapid7 had a return on equity of 149.12% and a net margin of 3.41%. The business had revenue of $214.19 million during the quarter, compared to the consensus estimate of $212.17 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that Rapid7 will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, Director Jana Partners Management, Lp bought 250,000 shares of Rapid7 stock in a transaction on Wednesday, August 13th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $5,315,000.00. Following the completion of the purchase, the director directly owned 6,518,604 shares in the company, valued at approximately $138,585,521.04. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 772,194 shares of company stock worth $15,135,356. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Rapid7

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new stake in shares of Rapid7 during the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Rapid7 during the first quarter worth $38,000. Versant Capital Management Inc lifted its position in shares of Rapid7 by 5,311.1% during the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,434 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Rapid7 during the second quarter worth $44,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Rapid7 during the first quarter worth $74,000. 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.