Jefferies Financial Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $45.00

Rapid7 (NASDAQ:RPD) had its price target dropped by investment analysts at Jefferies Financial Group from $50.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 26.58% from the company’s current price.

RPD has been the topic of a number of other research reports. Barclays lowered their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $42.00 price objective (down previously from $48.00) on shares of Rapid7 in a research report on Friday, January 17th. Robert W. Baird lowered their price objective on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial lowered their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Trading Up 2.1 %

Shares of RPD opened at $35.55 on Thursday. The firm’s 50-day moving average price is $39.23 and its 200-day moving average price is $38.82. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.43 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 announced its 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 net margin of 5.65% and a negative return on equity of 128.95%. On average, research analysts forecast that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several large investors have recently bought and sold shares of RPD. Dendur Capital LP acquired a new position in shares of Rapid7 in the 4th quarter valued at $19,190,000. Raymond James Financial Inc. acquired a new position in Rapid7 during the fourth quarter worth $12,050,000. Marshall Wace LLP raised its position in Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after acquiring an additional 280,913 shares during the period. Harbor Capital Advisors Inc. raised its position in Rapid7 by 259.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 288,965 shares of the technology company’s stock worth $11,625,000 after acquiring an additional 208,501 shares during the period. Finally, Invenomic Capital Management LP acquired a new position in Rapid7 during the third quarter worth $6,647,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.