Rapid7, Inc. (NASDAQ:RPD) Receives $37.32 Consensus Target Price from Analysts

Shares of Rapid7, Inc. (NASDAQ:RPD - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-two brokerages that are currently covering the company, Marketbeat reports. Fifteen equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.32.

A number of equities analysts have commented on RPD shares. Stifel Nicolaus reduced their price target on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Stephens began coverage on Rapid7 in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $33.00 target price on the stock. UBS Group dropped their price target on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 13th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group lowered their target price on Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, March 31st.

Insider Activity

In other news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $23.12, for a total value of $290,179.12. Following the transaction, the insider now owns 58,165 shares of the company's stock, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted 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 purchasing an additional 60,095 shares during the period. JANA Partners Management LP lifted its position in shares of Rapid7 by 0.9% during 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 acquiring an additional 34,589 shares during the period. Penserra Capital Management LLC increased its position in shares of Rapid7 by 95.8% in the first quarter. Penserra Capital Management LLC now owns 1,880,084 shares of the technology company's stock worth $49,841,000 after purchasing an additional 919,955 shares during the period. Shapiro Capital Management LLC lifted its position in Rapid7 by 295.9% during the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company's stock worth $51,935,000 after purchasing an additional 964,899 shares during the period. Finally, First Trust Advisors LP grew its stake in Rapid7 by 6.8% during the fourth quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company's stock worth $50,518,000 after buying an additional 79,836 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.21 during midday trading on Tuesday, reaching $23.41. 965,837 shares of the company's stock were exchanged, compared to its average volume of 887,659. The company's 50 day simple moving average is $26.38 and its two-hundred day simple moving average is $35.10. Rapid7 has a 12 month low of $21.61 and a 12 month high of $46.84. The firm has a market capitalization of $1.50 billion, a PE ratio of 60.03 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current year.

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.