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

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

A number of other research firms also recently weighed in on RPD. Barclays reduced their price target on shares of Rapid7 from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC restated a "hold" rating on shares of Rapid7 in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price target on shares of Rapid7 from $42.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, February 13th. UBS Group cut their price objective on Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Mizuho set a $30.00 target price on Rapid7 in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $33.32.

Rapid7 Price Performance

NASDAQ:RPD traded up $0.17 during trading hours on Tuesday, reaching $23.72. 831,416 shares of the company were exchanged, compared to its average volume of 855,003. The business has a 50 day moving average of $25.24 and a 200 day moving average of $33.78. Rapid7 has a 1-year low of $21.61 and a 1-year high of $44.48. The company has a market capitalization of $1.52 billion, a P/E ratio of 60.82 and a beta of 1.06.

Rapid7 (NASDAQ:RPD - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The technology company reported $0.49 earnings per share 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 company had revenue of $210.25 million during the quarter, compared to the consensus estimate of $208.25 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Rapid7 will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of Rapid7 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 completion of the sale, the insider now directly owns 58,165 shares in the company, valued at approximately $1,344,774.80. The trade was a 17.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Institutional Trading of Rapid7

Several hedge funds have recently modified their holdings of RPD. New York State Teachers Retirement System bought a new position in Rapid7 during the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Rapid7 during the 1st quarter worth about $38,000. Versant Capital Management Inc boosted its position in shares of Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after purchasing an additional 1,434 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of 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 buying an additional 455 shares during the period. Finally, Pacer Advisors Inc. increased its position 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 buying an additional 347 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

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.