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

Rapid7 (NASDAQ:RPD) had its price objective decreased by research analysts at UBS Group from $52.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s target price would indicate a potential upside of 29.65% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on RPD. DA Davidson boosted their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group reduced their target price on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup cut their price objective on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Barclays cut their price objective 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. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $41.35.

Rapid7 Stock Down 5.7 %

Shares of Rapid7 stock traded down $2.08 during trading on Thursday, reaching $34.71. The company’s stock had a trading volume of 181,053 shares, compared to its average volume of 574,891. The business’s 50-day moving average price is $39.57 and its 200-day moving average price is $38.87. The firm has a market cap of $2.19 billion, a PE ratio of 55.09 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.79.

Rapid7 (NASDAQ:RPD) last announced its 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 net margin of 5.65% and a negative return on equity of 128.95%. Equities analysts predict that Rapid7 will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Rapid7 by 0.7% in the fourth 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. Geode Capital Management LLC increased its stake in shares of Rapid7 by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after buying an additional 15,287 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rapid7 by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,006 shares of the technology company’s stock valued at $20,920,000 after buying an additional 8,918 shares during the period. Thematics Asset Management increased its stake in shares of Rapid7 by 33.0% in the third quarter. Thematics Asset Management now owns 399,000 shares of the technology company’s stock valued at $15,916,000 after buying an additional 99,000 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Rapid7 in the fourth quarter valued at approximately $12,050,000. Institutional investors and hedge funds 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.