Analysts Set Rapid7, Inc. (NASDAQ:RPD) Target Price at $43.71

Shares of Rapid7, Inc. (NASDAQ:RPD) have been assigned an average recommendation of “Hold” from the twenty research firms that are covering the firm, MarketBeat reports. Fifteen research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $43.76.

RPD has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus reiterated a “hold” rating and set a $42.00 price target (down from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. DA Davidson lifted their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, UBS Group decreased their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Insiders Place Their Bets

In related news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were 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 of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapid7

Several institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of Rapid7 by 30.4% in the fourth 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. 1620 Investment Advisors Inc. lifted its stake in Rapid7 by 14.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after buying an additional 352 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock valued at $185,000 after buying an additional 400 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Rapid7 by 0.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock worth $2,782,000 after buying an additional 446 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after acquiring an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Rapid7 Stock Down 1.0 %

NASDAQ:RPD opened at $38.90 on Friday. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The company has a fifty day simple moving average of $40.54 and a two-hundred day simple moving average of $39.03. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 61.75 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. On average, analysts expect that Rapid7 will post 0.98 EPS for the current year.

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.