Robert W. Baird Lowers Rapid7 (NASDAQ:RPD) Price Target to $39.00

Rapid7 (NASDAQ:RPD) had its price target cut by Robert W. Baird from $43.00 to $39.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

RPD has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Truist Financial cut their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. DA Davidson increased their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler cut their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Sixteen investment 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.com, Rapid7 presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Price Performance

Shares of NASDAQ RPD opened at $35.55 on Thursday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 56.43 and a beta of 0.96. The firm’s 50 day simple moving average is $39.23 and its 200-day simple moving average is $38.81. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.79.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data 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%. Analysts anticipate that Rapid7 will post 0.98 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several large investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after buying an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. increased its holdings in Rapid7 by 30.4% in 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 during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 in the third quarter valued at approximately $69,000. Finally, Ostrum Asset Management lifted its stake in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after purchasing an additional 772 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.