Rapid7 (NASDAQ:RPD) Price Target Cut to $47.00 by Analysts at Mizuho

Rapid7 (NASDAQ:RPD) had its price target cut by Mizuho from $62.00 to $47.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research firms also recently weighed in on RPD. Royal Bank of Canada reaffirmed an outperform rating and set a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Scotiabank initiated coverage on shares of Rapid7 in a research report on Friday, April 26th. They issued a sector perform rating and a $46.00 price target for the company. UBS Group upgraded shares of Rapid7 from a neutral rating to a buy rating and upped their price objective for the stock from $53.00 to $70.00 in a report on Monday, January 29th. StockNews.com cut shares of Rapid7 from a buy rating to a hold rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $52.13.

Rapid7 Stock Down 17.0 %

NASDAQ:RPD opened at $38.00 on Wednesday. Rapid7 has a twelve month low of $35.22 and a twelve month high of $61.88. The company has a fifty day moving average of $49.04 and a 200-day moving average of $52.71. The firm has a market capitalization of $2.37 billion, a P/E ratio of -15.14 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. On average, analysts anticipate that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Trading of Rapid7

A number of hedge funds have recently bought and sold shares of RPD. Fidelis Capital Partners LLC purchased a new position in shares of Rapid7 in the first quarter worth about $36,000. Mather Group LLC. bought a new stake in Rapid7 in the first quarter valued at approximately $42,000. International Assets Investment Management LLC boosted its stake in shares of Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after purchasing an additional 943 shares during the period. Financial Connections Group Inc. bought a new position in shares of Rapid7 in the fourth quarter worth approximately $95,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rapid7 in the first quarter worth $83,000. Institutional investors own 95.66% of the company’s stock.

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.