Truist Financial Issues Pessimistic Forecast for Rapid7 (NASDAQ:RPD) Stock Price

Rapid7 (NASDAQ:RPD) had its price objective dropped by investment analysts at Truist Financial from $38.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Truist Financial’s price target suggests a potential downside of 1.62% from the stock’s previous close.

Several other research firms have also recently commented on RPD. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Thursday. Scotiabank lifted their price target on Rapid7 from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus restated a “hold” rating and issued a $42.00 price objective (down previously from $48.00) on shares of Rapid7 in a research note on Friday, January 17th. DA Davidson raised their target price on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.00.

Rapid7 Trading Down 3.3 %

Shares of Rapid7 stock opened at $35.58 on Thursday. The company has a market capitalization of $2.25 billion, a P/E ratio of 56.93 and a beta of 0.96. The stock has a fifty day simple moving average of $39.57 and a 200 day simple moving average of $38.87. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.79.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. On average, analysts predict that Rapid7 will post 0.98 EPS for the current year.

Insider Buying and Selling

In other news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapid7

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in shares of Rapid7 by 3,888.2% in the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares during the last quarter. Pacer Advisors Inc. raised its stake in Rapid7 by 30.4% in the fourth 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Rapid7 during the third quarter valued at approximately $69,000. Finally, KBC Group NV grew its stake in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares in the last quarter. 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.