JPMorgan Chase & Co. Lowers Rapid7 (NASDAQ:RPD) Price Target to $40.00

Rapid7 (NASDAQ:RPD) had its price objective decreased by JPMorgan Chase & Co. from $42.00 to $40.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, December 6th. DA Davidson boosted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial dropped their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Citigroup dropped their price objective on shares of Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Sixteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Trading Down 5.4 %

Rapid7 stock opened at $34.82 on Tuesday. The company has a market capitalization of $2.20 billion, a P/E ratio of 55.27 and a beta of 0.96. The firm’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $38.84. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.79.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. On average, equities research analysts predict that Rapid7 will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the company’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 directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after purchasing an additional 661 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Rapid7 by 68.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Rapid7 by 30.4% during 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 during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Rapid7 during the third quarter valued at approximately $69,000. Finally, KBC Group NV grew its stake in shares of Rapid7 by 47.7% during the fourth 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 last quarter. 95.66% of the stock is owned by 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.