Rapid7 (NASDAQ:RPD) Given New $39.00 Price Target at DA Davidson

Rapid7 (NASDAQ:RPD) had its price objective hoisted by investment analysts at DA Davidson from $35.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential downside of 6.52% from the company’s previous close.

Several other equities analysts have also commented on the company. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their price target for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Robert W. Baird lowered shares of Rapid7 from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Jefferies Financial Group started coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Royal Bank of Canada cut Rapid7 from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Up 0.3 %

Shares of NASDAQ:RPD traded up $0.12 during trading on Thursday, reaching $41.72. The company had a trading volume of 648,163 shares, compared to its average volume of 845,395. The stock has a market capitalization of $2.62 billion, a P/E ratio of -49.61 and a beta of 0.96. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The company has a fifty day moving average of $37.90 and a two-hundred day moving average of $38.77.

Rapid7 (NASDAQ:RPD) last issued 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 business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. Rapid7’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) EPS. As a group, equities research analysts predict that Rapid7 will post 0.8 earnings per share for the current year.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapid7

Several institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank lifted its position in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock valued at $1,243,000 after purchasing an additional 281 shares during the period. Virtu Financial LLC increased its holdings in Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock worth $255,000 after acquiring an additional 346 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Rapid7 by 10.3% during the second 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 in the last quarter. Finally, Arizona State Retirement System lifted its stake in Rapid7 by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock valued at $750,000 after buying an additional 465 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

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.