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

Rapid7 (NASDAQ:RPD) had its price objective trimmed by UBS Group from $59.00 to $52.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

RPD has been the subject of a number of other research reports. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. Baird R W cut Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird cut Rapid7 from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Rapid7 Stock Down 1.8 %

Shares of RPD opened at $40.54 on Thursday. The stock’s 50-day moving average price is $38.02 and its 200 day moving average price is $38.71. 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 has a 12-month low of $32.94 and a 12-month high of $61.88.

Insider Activity

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. Algert Global LLC boosted its position in shares of Rapid7 by 158.6% during the second quarter. Algert Global LLC now owns 121,953 shares of the technology company’s stock worth $5,272,000 after purchasing an additional 74,793 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rapid7 by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock worth $24,691,000 after buying an additional 18,907 shares during the period. SG Americas Securities LLC lifted its holdings in Rapid7 by 7,688.6% during the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after acquiring an additional 163,075 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Rapid7 in the third quarter valued at about $948,000. Finally, Point72 Asset Management L.P. grew its stake in Rapid7 by 252.0% in the second quarter. Point72 Asset Management L.P. now owns 3,799,119 shares of the technology company’s stock valued at $164,236,000 after acquiring an additional 2,719,791 shares during the period. 95.66% of the stock is owned by institutional investors.

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.