DA Davidson Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

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

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Raymond James lowered their price objective on Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group dropped their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus target price of $39.94.

Rapid7 Stock Performance

NASDAQ:RPD opened at $29.48 on Tuesday. The stock has a 50-day simple moving average of $33.76 and a two-hundred day simple moving average of $37.49. The firm has a market capitalization of $1.89 billion, a PE ratio of 75.59 and a beta of 0.92. Rapid7 has a 52-week low of $26.77 and a 52-week high of $50.55.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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%. Equities analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly 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 accessible through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Rapid7

Institutional investors have recently added to or reduced their stakes in the company. Shapiro Capital Management LLC boosted its stake in shares of Rapid7 by 295.9% during 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 purchasing an additional 964,899 shares during the period. Estuary Capital Management LP bought a new stake in Rapid7 during the 4th quarter valued at about $20,714,000. Dendur Capital LP purchased a new stake in Rapid7 in the 4th quarter valued at about $19,190,000. Raymond James Financial Inc. bought a new position in Rapid7 in the 4th quarter worth about $12,050,000. Finally, Marshall Wace LLP raised its stake in shares of Rapid7 by 144.2% during the fourth quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock valued at $19,137,000 after acquiring an additional 280,913 shares in the last quarter. 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.