JPMorgan Chase & Co. Increases Rapid7 (NASDAQ:RPD) Price Target to $42.00

Rapid7 (NASDAQ:RPD) had its target price increased by JPMorgan Chase & Co. from $40.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Scotiabank decreased their price target on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $50.00 to $40.00 in a research report on Friday, September 20th. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, Jefferies Financial Group assumed coverage on Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target on the stock. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Price Performance

NASDAQ:RPD traded down $0.74 during mid-day trading on Thursday, reaching $40.54. 1,005,345 shares of the company’s stock traded hands, compared to its average volume of 848,452. The company has a 50 day moving average price of $37.97 and a 200-day moving average price of $38.79. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.72 and a beta of 0.96. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share. As a group, analysts forecast that Rapid7 will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its holdings in shares of Rapid7 by 4.2% in the first quarter. Mutual of America Capital Management LLC now owns 83,181 shares of the technology company’s stock worth $4,079,000 after buying an additional 3,382 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Rapid7 in the first quarter worth approximately $83,000. GSA Capital Partners LLP raised its position in Rapid7 by 235.9% in the first quarter. GSA Capital Partners LLP now owns 14,714 shares of the technology company’s stock worth $722,000 after acquiring an additional 10,333 shares during the period. Quantbot Technologies LP purchased a new position in shares of Rapid7 during the 1st quarter worth $218,000. Finally, Swiss National Bank grew its position in shares of Rapid7 by 1.0% during the 1st quarter. Swiss National Bank now owns 121,300 shares of the technology company’s stock valued at $5,949,000 after acquiring an additional 1,200 shares during the period. 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.