UBS Group Lowers Rapid7 (NASDAQ:RPD) Price Target to $52.00

Rapid7 (NASDAQ:RPD) had its price objective lowered by analysts at UBS Group from $59.00 to $52.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective points to a potential upside of 28.27% from the company’s previous close.

Other analysts also recently issued research reports about the company. Scotiabank decreased their target price on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird downgraded shares of Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. Morgan Stanley reiterated an “equal weight” rating and set a $46.00 target price on shares of Rapid7 in a research note on Wednesday, July 10th. Baird R W lowered shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and decreased their target price for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Down 1.8 %

Shares of NASDAQ:RPD traded down $0.74 during trading on Thursday, reaching $40.54. The stock had a trading volume of 1,005,365 shares, compared to its average volume of 848,452. The stock has a fifty day simple moving average of $38.02 and a two-hundred day simple moving average of $38.76. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) EPS. On average, analysts forecast that Rapid7 will post 0.8 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares in the company, valued at $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its position in Rapid7 by 1.1% during the 1st quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after buying an additional 281 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Rapid7 by 7.1% during the first quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after purchasing an additional 346 shares during the last quarter. 1620 Investment Advisors Inc. grew its stake in shares of Rapid7 by 14.5% during the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after purchasing an additional 352 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Rapid7 by 10.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after purchasing an additional 465 shares during the last quarter. 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.