Stifel Nicolaus Has Lowered Expectations for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective decreased by Stifel Nicolaus from $42.00 to $38.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

A number of other equities research analysts also recently commented on the company. Citigroup reduced their target price on Rapid7 from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. DA Davidson boosted their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial decreased their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their price target on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Scotiabank upped their price objective on shares of Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Sixteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.22.

Rapid7 Trading Down 5.4 %

Shares of RPD stock opened at $34.82 on Thursday. Rapid7 has a twelve month low of $32.94 and a twelve month high of $61.79. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 55.27 and a beta of 0.96. The company’s 50-day moving average price is $39.39 and its 200-day moving average price is $38.84.

Rapid7 (NASDAQ:RPD) last posted its earnings results 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 5.65% and a negative return on equity of 128.95%. As a group, equities research analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapid7

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in Rapid7 by 30.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after purchasing an additional 347 shares during the period. 1620 Investment Advisors Inc. boosted its position in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock worth $111,000 after purchasing an additional 352 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Rapid7 by 0.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 69,154 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 446 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Rapid7 by 68.8% in 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 period. Finally, International Assets Investment Management LLC lifted its stake 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 valued at $27,000 after purchasing an additional 661 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.