Rapid7 (NASDAQ:RPD) Given New $35.00 Price Target at Truist Financial

Rapid7 (NASDAQ:RPD) had its price objective cut by equities research analysts at Truist Financial from $38.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Truist Financial’s price objective suggests a potential downside of 1.55% from the stock’s current price.

RPD has been the topic of a number of other reports. Barclays decreased their target price on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group reduced their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group reduced their price target on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Citigroup reduced their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Sixteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Up 2.1 %

RPD stock opened at $35.55 on Thursday. The firm has a market capitalization of $2.25 billion, a PE 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. The business’s 50 day simple moving average is $39.23 and its 200 day simple moving average is $38.82.

Rapid7 (NASDAQ:RPD) last posted 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 negative return on equity of 128.95% and a net margin of 5.65%. As a group, sell-side analysts predict that Rapid7 will post 0.98 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

A number of institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings 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 worth $46,000 after purchasing an additional 455 shares in the last quarter. 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 worth $60,000 after purchasing an additional 347 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Rapid7 in the 3rd quarter worth about $69,000. Finally, Ostrum Asset Management increased its holdings in Rapid7 by 45.3% in the 4th 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.

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.