Brokerages Set Rapid7, Inc. (NASDAQ:RPD) PT at $41.22

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $41.22.

Several equities research analysts have issued reports on RPD shares. Truist Financial decreased their price objective on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. 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 report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group reduced their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group cut their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the 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 sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapid7

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after acquiring an additional 60,095 shares during the period. JANA Partners Management LP increased its position in shares of Rapid7 by 0.9% in the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after purchasing an additional 34,589 shares during the period. Geode Capital Management LLC increased its position in shares of Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after purchasing an additional 15,287 shares during the period. Shapiro Capital Management LLC increased its position in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after purchasing an additional 964,899 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Rapid7 by 6.8% in the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Price Performance

RPD opened at $27.99 on Monday. The business has a 50 day simple moving average of $35.41 and a 200-day simple moving average of $37.94. The stock has a market capitalization of $1.79 billion, a P/E ratio of 71.77 and a beta of 0.92. Rapid7 has a 12 month low of $26.77 and a 12 month high of $51.99.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. Research analysts anticipate that Rapid7 will post 0.35 EPS for the current year.

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.