UBS Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $45.00

Rapid7 (NASDAQ:RPD) had its price objective dropped by UBS Group from $52.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s target price indicates a potential upside of 26.58% from the company’s current price.

Several other brokerages also recently weighed in on RPD. Citigroup decreased their target price on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Financial Group cut their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus reissued a “hold” rating and set a $42.00 price target (down from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Finally, Scotiabank increased their price target on shares of Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Sixteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Price Performance

NASDAQ RPD opened at $35.55 on Thursday. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.79. The company has a market capitalization of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. The company has a fifty day moving average of $39.23 and a two-hundred day moving average of $38.82.

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

Insider Transactions at Rapid7

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

Institutional Trading of Rapid7

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after purchasing an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Rapid7 in the 3rd quarter valued at $69,000. Finally, Ostrum Asset Management boosted its holdings in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after purchasing an additional 772 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.