Rapid7 (NASDAQ:RPD) Given New $30.00 Price Target at Susquehanna

Rapid7 (NASDAQ:RPD) had its target price reduced by Susquehanna from $40.00 to $30.00 in a research report released on Tuesday,Benzinga reports. Susquehanna currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group reduced their target price on Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a report on Monday, March 31st. Stifel Nicolaus reduced their target price on Rapid7 from $38.00 to $29.00 and set a “hold” rating for the company in a report on Tuesday. Raymond James cut their price target on Rapid7 from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday. Piper Sandler cut their price target on Rapid7 from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, UBS Group cut their price target on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.53.

Rapid7 Price Performance

NASDAQ:RPD opened at $24.56 on Tuesday. Rapid7 has a 1-year low of $21.61 and a 1-year high of $44.48. The firm’s fifty day moving average price is $25.52 and its 200 day moving average price is $34.15. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 62.97 and a beta of 1.06.

Rapid7 (NASDAQ:RPD) last released its earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. The company had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. During the same quarter last year, the company earned $0.55 earnings per share. Rapid7’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, analysts expect that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of Rapid7 stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the sale, the insider now owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Rapid7

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Rapid7 by 0.7% in 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 grew its holdings in Rapid7 by 0.9% in the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock valued at $148,454,000 after buying an additional 34,589 shares during the period. Penserra Capital Management LLC grew its holdings in Rapid7 by 95.8% in the 1st quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company’s stock valued at $49,841,000 after buying an additional 919,955 shares during the period. Shapiro Capital Management LLC grew its holdings in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after buying an additional 964,899 shares during the period. Finally, First Trust Advisors LP grew its holdings in Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock valued at $50,518,000 after buying an additional 79,836 shares during the period. Hedge funds and other institutional investors 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.