Rapid7 (NASDAQ:RPD) Given New $13.00 Price Target at Jefferies Financial Group

Rapid7 (NASDAQ:RPD) had its price target lowered by Jefferies Financial Group from $18.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on RPD. Morgan Stanley reissued an “outperform” rating and issued a $18.00 target price on shares of Rapid7 in a report on Thursday, December 18th. Truist Financial set a $14.00 price objective on Rapid7 in a research report on Tuesday, January 20th. Berenberg Bank began coverage on Rapid7 in a research report on Tuesday, November 18th. They issued a “hold” rating and a $16.00 target price on the stock. Barclays downgraded shares of Rapid7 from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $18.00 to $15.00 in a report on Monday, January 5th. Finally, Citigroup lowered shares of Rapid7 from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $15.00 in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.53.

Rapid7 Stock Performance

RPD stock opened at $11.80 on Monday. The stock’s 50 day simple moving average is $14.58 and its 200 day simple moving average is $17.45. Rapid7 has a 12-month low of $11.53 and a 12-month high of $39.39. The firm has a market cap of $772.66 million, a P/E ratio of 34.71 and a beta of 0.79. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 7.01.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, November 4th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.12. Rapid7 had a net margin of 2.61% and a return on equity of 67.30%. The firm had revenue of $217.96 million during the quarter, compared to analyst estimates of $216.14 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Rapid7 will post 0.35 EPS for the current year.

Insider Activity

In related news, CEO Corey E. Thomas purchased 14,500 shares of Rapid7 stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $13.82 per share, with a total value of $200,390.00. Following the purchase, the chief executive officer owned 595,066 shares in the company, valued at approximately $8,223,812.12. The trade was a 2.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marc Evan Brown acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $15.21 per share, with a total value of $45,630.00. Following the completion of the acquisition, the director directly owned 51,882 shares of the company’s stock, valued at approximately $789,125.22. This represents a 6.14% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 67,345 shares of company stock worth $1,025,202 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Rapid7 by 26.8% in the first quarter. Royal Bank of Canada now owns 326,910 shares of the technology company’s stock valued at $8,667,000 after buying an additional 69,122 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Rapid7 during the first quarter worth $424,000. Woodline Partners LP lifted its holdings in shares of Rapid7 by 48.0% during the first quarter. Woodline Partners LP now owns 86,712 shares of the technology company’s stock valued at $2,299,000 after purchasing an additional 28,115 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Rapid7 in the 2nd quarter valued at $285,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rapid7 by 117.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,918 shares of the technology company’s stock valued at $530,000 after purchasing an additional 12,370 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.