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

Rapid7 (NASDAQ:RPD) had its target price dropped by equities researchers at Barclays from $43.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential downside of 1.55% from the company’s previous close.

Several other analysts also recently weighed in on RPD. Jefferies Financial Group assumed coverage on Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price for the company. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Robert W. Baird cut their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group cut their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus restated a “hold” rating and set a $42.00 price target (down previously from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. Sixteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.22.

Rapid7 Stock Up 2.1 %

Shares of RPD opened at $35.55 on Thursday. The company has a market cap of $2.25 billion, a PE ratio of 56.43 and a beta of 0.96. The business has a fifty day moving average of $39.23 and a 200 day moving average of $38.82. Rapid7 has a 52-week low of $32.94 and a 52-week high of $61.79.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that Rapid7 will post 0.98 earnings per share 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 dated 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 sale, the chief executive officer now owns 431,469 shares in the company, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

A number of large investors have recently modified their holdings of RPD. Creative Planning acquired a new stake in shares of Rapid7 during the third quarter worth about $253,000. Tempus Wealth Planning LLC acquired a new stake in shares of Rapid7 during the third quarter worth about $264,000. International Assets Investment Management LLC lifted its holdings in shares of Rapid7 by 3,888.2% during the third 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 during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Rapid7 during the third quarter worth about $948,000. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares during the period. Hedge funds and other institutional investors 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.