Rapid7 (NASDAQ:RPD) Reaches New 1-Year Low – What’s Next?

Rapid7, Inc. (NASDAQ:RPD) reached a new 52-week low during trading on Tuesday . The company traded as low as $27.95 and last traded at $28.35, with a volume of 1103847 shares traded. The stock had previously closed at $29.09.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RPD. Citigroup cut their target price on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group reduced their price objective on Rapid7 from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Truist Financial cut their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. UBS Group lowered their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank reduced their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.22.

Rapid7 Trading Down 2.5 %

The business’s fifty day moving average price is $37.55 and its two-hundred day moving average price is $38.56. The firm has a market cap of $1.79 billion, a P/E ratio of 72.69 and a beta of 0.96.

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%. Research analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred 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 transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning bought a new stake in Rapid7 during the third quarter valued at about $253,000. International Assets Investment Management LLC lifted its position in shares of Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Rapid7 by 491.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company’s stock valued at $3,210,000 after purchasing an additional 66,854 shares during the period. Asset Management One Co. Ltd. grew its holdings in Rapid7 by 3.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 125,678 shares of the technology company’s stock valued at $5,013,000 after buying an additional 3,634 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Rapid7 by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 47,661 shares of the technology company’s stock worth $1,901,000 after buying an additional 4,214 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

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.