Rapid7 (NASDAQ:RPD) Sets New 12-Month Low – Here’s What Happened

Rapid7, Inc. (NASDAQ:RPD) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $32.73 and last traded at $32.75, with a volume of 61900 shares changing hands. The stock had previously closed at $33.72.

Wall Street Analyst Weigh In

A number of research firms recently commented on RPD. Robert W. Baird lowered their target price on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Citigroup dropped their price objective on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays decreased their price target on Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler dropped their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Performance

The company has a market capitalization of $2.00 billion, a PE ratio of 81.31 and a beta of 0.96. The stock’s 50-day simple moving average is $38.49 and its 200 day simple moving average is $38.71.

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

Insider Buying and Selling at Rapid7

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

Institutional Investors Weigh In On Rapid7

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning purchased a new stake in Rapid7 during the third quarter worth about $253,000. International Assets Investment Management LLC grew 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 worth $27,000 after acquiring an additional 661 shares during the period. Assenagon Asset Management S.A. purchased a new position in Rapid7 in the 3rd quarter valued at approximately $948,000. 1620 Investment Advisors Inc. raised 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 worth $111,000 after purchasing an additional 352 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Rapid7 by 491.2% during the third quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company’s stock worth $3,210,000 after purchasing an additional 66,854 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.