DA Davidson Cuts Rapid7 (NASDAQ:RPD) Price Target to $29.00

Rapid7 (NASDAQ:RPD) had its target price trimmed by DA Davidson from $35.00 to $29.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has a neutral rating on the technology company’s stock.

RPD has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Citigroup cut their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial lowered their price target on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, Raymond James lowered their price objective on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 has a consensus rating of “Hold” and a consensus target price of $39.94.

Rapid7 Stock Performance

Rapid7 stock opened at $28.71 on Tuesday. The firm’s 50-day moving average is $33.32 and its 200-day moving average is $37.38. Rapid7 has a 1 year low of $26.77 and a 1 year high of $50.55. The company has a market cap of $1.84 billion, a P/E ratio of 73.62 and a beta of 0.92.

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

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CSS LLC IL bought a new position in shares of Rapid7 during the 4th quarter valued at about $837,000. Vident Advisory LLC raised its holdings in Rapid7 by 47.7% during the 4th quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock worth $1,360,000 after buying an additional 10,923 shares during the period. Two Sigma Advisers LP lifted its stake in Rapid7 by 87.7% in the fourth quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock valued at $430,000 after buying an additional 5,000 shares in the last quarter. Two Sigma Investments LP lifted its stake in Rapid7 by 48.7% in the fourth quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock valued at $5,719,000 after buying an additional 46,567 shares in the last quarter. Finally, Shapiro Capital Management LLC boosted its holdings 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 valued at $51,935,000 after buying an additional 964,899 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

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.