Truist Financial Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective trimmed by Truist Financial from $38.00 to $35.00 in a research note published on Thursday,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Several other research firms have also recently commented on RPD. Piper Sandler decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Scotiabank raised their price objective on shares of Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays cut their target price on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Robert W. Baird decreased their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Performance

Shares of RPD opened at $34.82 on Thursday. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. The stock has a fifty day moving average of $39.39 and a 200-day moving average of $38.84.

Rapid7 (NASDAQ:RPD) last posted 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 negative return on equity of 128.95% and a net margin of 5.65%. As a group, equities analysts forecast that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In other Rapid7 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 owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares during the period. Pacer Advisors Inc. lifted its position in shares of Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock valued at $60,000 after buying an additional 347 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Rapid7 during the 3rd quarter valued at $69,000. Finally, KBC Group NV grew its stake in shares of Rapid7 by 47.7% during the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

About Rapid7

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.