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

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RPD. Truist Financial reduced their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. StockNews.com lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. Barclays reduced their target price on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Sixteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and an average price target of $41.22.

Rapid7 Stock Performance

The firm has a fifty day simple moving average of $38.81 and a two-hundred day simple moving average of $38.77. The firm has a market cap of $2.05 billion, a PE ratio of 83.12 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly 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 negative return on equity of 130.41% and a net margin of 3.46%. Equities analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction dated 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 of the company’s stock, valued at approximately $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 accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of RPD. Nordea Investment Management AB increased its stake in Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock worth $3,030,000 after purchasing an additional 37,708 shares during the period. Assenagon Asset Management S.A. purchased a new position in Rapid7 in the 3rd quarter worth about $948,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Rapid7 by 36.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,951 shares of the technology company’s stock valued at $3,429,000 after buying an additional 22,734 shares in the last quarter. Stifel Financial Corp bought a new stake in Rapid7 during the 3rd quarter valued at about $1,006,000. Finally, Maverick Capital Ltd. purchased a new stake in Rapid7 in the 3rd quarter valued at about $1,679,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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.