Rapid7 (NASDAQ:RPD) Given New $35.00 Price Target at Jefferies Financial Group

Rapid7 (NASDAQ:RPD) had its price objective dropped by investment analysts at Jefferies Financial Group from $45.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 32.70% from the company’s previous close.

Several other research analysts also recently commented on RPD. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus reduced their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. DA Davidson decreased their price objective on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. Finally, Citigroup decreased their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.39.

Rapid7 Stock Performance

Rapid7 stock traded down $1.22 during mid-day trading on Monday, reaching $26.38. The company’s stock had a trading volume of 449,086 shares, compared to its average volume of 846,487. Rapid7 has a 12 month low of $26.00 and a 12 month high of $50.55. The business’s 50 day simple moving average is $33.10 and its 200 day simple moving average is $37.37. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 67.78 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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 net margin of 3.46% and a negative return on equity of 130.41%. As a group, sell-side analysts expect that Rapid7 will post 0.35 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 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 directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in shares of Rapid7 by 100.8% during the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after buying an additional 37,708 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Rapid7 in the 4th quarter worth about $12,050,000. Stifel Financial Corp acquired a new position in Rapid7 in the 3rd quarter worth about $1,006,000. Harbor Capital Advisors Inc. raised its position in Rapid7 by 259.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock valued at $11,625,000 after purchasing an additional 208,501 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Rapid7 by 13.9% during the fourth quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 6,645 shares in the last quarter. Institutional investors 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.