Rapid7 (NASDAQ:RPD) Reaches New 52-Week Low on Analyst Downgrade

Rapid7, Inc. (NASDAQ:RPD) shares reached a new 52-week low during trading on Monday after Jefferies Financial Group lowered their price target on the stock from $45.00 to $35.00. Jefferies Financial Group currently has a buy rating on the stock. Rapid7 traded as low as $25.98 and last traded at $26.47, with a volume of 43637 shares traded. The stock had previously closed at $27.59.

Other equities analysts also recently issued reports about the stock. Truist Financial reduced their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 13th. StockNews.com raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. UBS Group cut their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Robert W. Baird dropped their target price on Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rapid7 currently has an average rating of “Hold” and a consensus price target of $39.05.

Insider Transactions at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now directly owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ increased its holdings in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock valued at $46,000 after buying an additional 455 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Rapid7 by 30.4% in the 4th 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. Ostrum Asset Management raised its holdings in Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after purchasing an additional 772 shares during the period. KBC Group NV boosted its position in Rapid7 by 47.7% during the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after purchasing an additional 867 shares in the last quarter. Finally, One68 Global Capital LLC acquired a new stake in Rapid7 in the fourth quarter valued at approximately $201,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Stock Performance

The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 68.67 and a beta of 0.92. The company has a 50 day moving average price of $32.60 and a two-hundred day moving average price of $37.27.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.