Barclays Cuts Rapid7 (NASDAQ:RPD) Price Target to $35.00

Rapid7 (NASDAQ:RPD) had its price objective lowered by Barclays from $43.00 to $35.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on RPD. Scotiabank lifted their price target 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. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. DA Davidson boosted their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Citigroup dropped their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Robert W. Baird cut their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Price Performance

Shares of RPD stock opened at $34.82 on Thursday. The business’s fifty day moving average price is $39.39 and its 200 day moving average price is $38.84. The firm has a market capitalization of $2.20 billion, a PE ratio of 55.27 and a beta of 0.96. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.79.

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

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in shares of 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. Skandinaviska Enskilda Banken AB publ increased its position in Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. increased its position in Rapid7 by 30.4% during the fourth 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. RPg Family Wealth Advisory LLC purchased a new position in Rapid7 during the third quarter worth approximately $69,000. Finally, KBC Group NV boosted its holdings in shares of Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the last quarter. Hedge funds and other 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.