Robert W. Baird Raises Rapid7 (NASDAQ:RPD) Price Target to $28.00

Rapid7 (NASDAQ:RPD - Get Free Report) had its target price raised by stock analysts at Robert W. Baird from $26.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Robert W. Baird's target price points to a potential upside of 18.04% from the company's previous close.

RPD has been the subject of a number of other research reports. Truist Financial lowered their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on shares of Rapid7 from $36.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday. Scotiabank lowered their price objective on shares of Rapid7 from $42.00 to $38.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their target price on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $33.32.

Rapid7 Price Performance

Shares of Rapid7 stock traded up $0.17 on Tuesday, hitting $23.72. 831,416 shares of the company's stock traded hands, compared to its average volume of 854,511. Rapid7 has a one year low of $21.61 and a one year high of $44.48. The firm's 50-day moving average price is $25.24 and its two-hundred day moving average price is $33.84. The stock has a market capitalization of $1.52 billion, a PE ratio of 60.82 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The technology company reported $0.49 EPS for the quarter, beating 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 prior year, the company earned $0.55 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

In related 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 value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Rapid7

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in Rapid7 by 30.4% in the 4th 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. Exchange Traded Concepts LLC raised its holdings in 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 acquiring an additional 446 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Rapid7 by 68.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after acquiring an additional 455 shares during the period. Principal Financial Group Inc. raised its holdings in Rapid7 by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 54,915 shares of the technology company's stock valued at $1,456,000 after acquiring an additional 609 shares during the period. Finally, Y.D. More Investments Ltd raised its holdings in Rapid7 by 12.0% in the 1st quarter. Y.D. More Investments Ltd now owns 5,839 shares of the technology company's stock valued at $171,000 after acquiring an additional 625 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.