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

Rapid7 (NASDAQ:RPD) had its price target cut by UBS Group from $59.00 to $52.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on RPD. JPMorgan Chase & Co. lowered their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target on shares of Rapid7 in a research report on Wednesday, July 10th. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Scotiabank lowered 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 report on Wednesday, August 7th. Finally, Piper Sandler lowered their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Fifteen 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 currently has a consensus rating of “Hold” and a consensus price target of $44.59.

Rapid7 Stock Performance

Rapid7 stock traded down $0.74 during trading hours on Thursday, hitting $40.54. The company had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. The firm has a market cap of $2.54 billion, a P/E ratio of 64.72 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88. The company has a 50-day moving average price of $37.97 and a two-hundred day moving average price of $38.79.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data 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 company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) EPS. As a group, equities research analysts anticipate that Rapid7 will post 0.8 EPS for the current year.

Insider Buying and Selling at Rapid7

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

Institutional Trading of Rapid7

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings 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 buying an additional 661 shares in the last quarter. Quest Partners LLC purchased a new position in Rapid7 during the second quarter valued at $35,000. Summit Securities Group LLC purchased a new position in Rapid7 during the second quarter valued at $43,000. Financial Connections Group Inc. purchased a new position in Rapid7 during the second quarter valued at $72,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rapid7 during the first quarter valued at $83,000. 95.66% of the stock is owned by hedge funds and other 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.