Barclays Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its target price dropped by stock analysts at Barclays from $43.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target indicates a potential downside of 1.55% from the company’s previous close.

Several other brokerages have also recently weighed in on RPD. UBS Group lowered their price objective on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial lowered their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Finally, Piper Sandler lowered their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Performance

RPD opened at $35.55 on Thursday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 56.43 and a beta of 0.96. The company’s 50-day simple moving average is $39.23 and its two-hundred day simple moving average is $38.82. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.79.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. Research analysts forecast that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after acquiring an additional 60,095 shares during the last quarter. JANA Partners Management LP boosted its position in shares of Rapid7 by 0.9% during the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after acquiring an additional 34,589 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Rapid7 by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after acquiring an additional 15,287 shares during the last quarter. First Trust Advisors LP lifted its position in Rapid7 by 6.8% in the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after buying an additional 79,836 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Rapid7 by 0.9% in the fourth quarter. Legal & General Group Plc now owns 707,556 shares of the technology company’s stock worth $28,465,000 after buying an additional 6,269 shares during the last quarter. 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.