Analysts Set Rapid7, Inc. (NASDAQ:RPD) PT at $33.32

Shares of Rapid7, Inc. (NASDAQ:RPD - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.32.

RPD has been the subject of a number of research reports. Barclays cut their price objective on shares of Rapid7 from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Raymond James cut their price objective on shares of Rapid7 from $45.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on shares of Rapid7 from $36.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Piper Sandler dropped their price target on shares of Rapid7 from $35.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Morgan Stanley increased their price target on shares of Rapid7 from $26.00 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th.

Insider Buying and Selling

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

A number of institutional investors and hedge funds have recently bought and sold shares of RPD. New York State Teachers Retirement System bought a new stake in shares of Rapid7 in the first quarter worth approximately $29,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Rapid7 during the first quarter valued at approximately $38,000. Versant Capital Management Inc lifted its holdings in Rapid7 by 5,311.1% during the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock valued at $39,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in 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 in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Rapid7 Price Performance

RPD stock traded up $0.47 during midday trading on Friday, reaching $22.84. The company had a trading volume of 716,929 shares, compared to its average volume of 845,257. Rapid7 has a 1 year low of $21.61 and a 1 year high of $44.48. The company has a market capitalization of $1.47 billion, a P/E ratio of 58.56 and a beta of 1.06. The firm has a 50-day moving average price of $24.24 and a 200-day moving average price of $32.73.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.12. Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. The business had revenue of $210.25 million during the quarter, compared to analysts' expectations of $208.25 million. During the same quarter in the previous year, the company earned $0.55 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Rapid7 will post 0.35 EPS 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.