JPMorgan Chase & Co. Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $36.00 to $29.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.08% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. 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 note on Thursday, February 13th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. DA Davidson cut their target price on shares of Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Morgan Stanley reduced their price objective on Rapid7 from $33.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group lowered their price objective on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.53.

Rapid7 Stock Performance

NASDAQ:RPD opened at $24.56 on Monday. The stock has a fifty day moving average price of $25.52 and a 200-day moving average price of $34.15. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 62.97 and a beta of 1.06. Rapid7 has a fifty-two week low of $21.61 and a fifty-two week high of $44.48.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The business had revenue of $210.25 million during the quarter, compared to analysts’ expectations of $208.25 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. Rapid7’s revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Rapid7 will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction on Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares of the company’s stock, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in Rapid7 during the 1st quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in shares of Rapid7 by 5,311.1% in the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,434 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 347 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Rapid7 during the first quarter worth $74,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.