Jefferies Financial Group Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price target decreased by research analysts at Jefferies Financial Group from $45.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 32.70% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. DA Davidson decreased their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. UBS Group lowered their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays cut their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial lowered their price objective on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Rapid7 has an average rating of “Hold” and a consensus price target of $39.39.

Rapid7 Price Performance

Shares of Rapid7 stock traded down $1.22 during midday trading on Monday, reaching $26.38. The company had a trading volume of 449,086 shares, compared to its average volume of 846,487. The firm has a market cap of $1.69 billion, a PE ratio of 67.78 and a beta of 0.92. The stock has a fifty day moving average price of $33.10 and a 200 day moving average price of $37.37. Rapid7 has a fifty-two week low of $26.00 and a fifty-two week high of $50.55.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results 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 negative return on equity of 130.41% and a net margin of 3.46%. As a group, sell-side analysts forecast that Rapid7 will post 0.35 EPS for the current year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the sale, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of 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 buying an additional 455 shares during the last quarter. Pacer Advisors Inc. boosted its position in Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the last quarter. Ostrum Asset Management boosted its position in Rapid7 by 45.3% in 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 during the last quarter. KBC Group NV grew its stake in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock valued at $108,000 after purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC purchased a new stake in shares of Rapid7 during the 4th quarter valued at $201,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.