Robert W. Baird Cuts Rapid7 (NASDAQ:RPD) Price Target to $39.00

Rapid7 (NASDAQ:RPD) had its price target reduced by Robert W. Baird from $43.00 to $39.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other analysts have also weighed in on the company. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Truist Financial decreased their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Scotiabank boosted their price objective on shares of Rapid7 from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Piper Sandler reduced their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Sixteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Up 2.1 %

RPD stock opened at $35.55 on Thursday. The stock has a market cap of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.79. The company has a 50-day moving average price of $39.23 and a 200 day moving average price of $38.81.

Rapid7 (NASDAQ:RPD) last announced 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%. Sell-side analysts forecast that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after buying an additional 446 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after acquiring an additional 455 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Rapid7 by 3,888.2% during the 3rd 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 period. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.