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

Rapid7, Inc. (NASDAQ:RPD)’s stock price reached a new 52-week low on Monday . The stock traded as low as $21.77 and last traded at $21.79, with a volume of 92517 shares trading hands. The stock had previously closed at $22.56.

Analyst Ratings Changes

RPD has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley cut their price target on Rapid7 from $33.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. UBS Group decreased their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Jefferies Financial Group decreased their target price on shares of Rapid7 from $45.00 to $35.00 and set a “buy” rating for the company in a report on Monday, March 31st. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rapid7 currently has an average rating of “Hold” and an average target price of $37.32.

Rapid7 Trading Down 2.8 %

The company’s 50-day moving average is $28.12 and its two-hundred day moving average is $35.94. The firm has a market cap of $1.40 billion, a P/E ratio of 56.21 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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%. Research analysts anticipate that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $23.12, for a total transaction of $290,179.12. Following the completion of the sale, the insider now directly owns 58,165 shares in the company, valued at $1,344,774.80. The trade was a 17.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Corey E. Thomas sold 100,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several large investors have recently modified their holdings of RPD. Skandinaviska Enskilda Banken AB publ boosted its position in Rapid7 by 68.8% in the 4th 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 during the period. Versant Capital Management Inc boosted its holdings in Rapid7 by 5,311.1% in the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,434 shares in the last quarter. Pacer Advisors Inc. increased its stake in Rapid7 by 30.4% during 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 lifted its position in Rapid7 by 45.3% during the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock worth $100,000 after acquiring an additional 772 shares during the period. Finally, KBC Group NV increased its holdings in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after buying an additional 867 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.