Jefferies Financial Group Cuts Rapid7 (NASDAQ:RPD) Price Target to $35.00

Rapid7 (NASDAQ:RPD) had its price objective reduced by Jefferies Financial Group from $45.00 to $35.00 in a research note issued to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. DA Davidson lowered their target price on Rapid7 from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Truist Financial lowered their price objective on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Barclays cut their target price on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Citigroup decreased their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Fifteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $39.05.

Rapid7 Stock Performance

Shares of NASDAQ:RPD opened at $27.44 on Monday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 70.36 and a beta of 0.99. The business has a 50-day simple moving average of $32.36 and a two-hundred day simple moving average of $37.21. Rapid7 has a fifty-two week low of $25.98 and a fifty-two week high of $50.55.

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 the consensus estimate of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, research analysts predict that Rapid7 will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

Several hedge funds have recently made changes to their positions in RPD. Vanguard Group Inc. raised its holdings in Rapid7 by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock valued at $346,721,000 after buying an additional 60,095 shares during the period. JANA Partners Management LP raised its stake in shares of Rapid7 by 0.9% in the fourth quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after acquiring an additional 34,589 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock worth $58,330,000 after acquiring an additional 15,287 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in shares of Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after acquiring an additional 964,899 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Rapid7 by 6.8% during the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares during the period. 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.