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

Rapid7, Inc. (NASDAQ:RPD) reached a new 52-week low on Monday . The company traded as low as $27.72 and last traded at $27.75, with a volume of 162921 shares traded. The stock had previously closed at $29.25.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RPD. Citigroup lowered their target price on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their price objective on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Thursday, February 13th. 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 note on Tuesday, February 11th. Finally, UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Fifteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Stock Down 4.6 %

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 71.49 and a beta of 0.92. The business has a 50-day moving average of $36.42 and a two-hundred day moving average of $38.23.

Rapid7 (NASDAQ:RPD) last issued its 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%. Equities analysts predict that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of Rapid7 stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapid7

Several hedge funds and other institutional investors have recently modified their holdings of RPD. CSS LLC IL acquired a new position in Rapid7 in the fourth quarter valued at about $837,000. Vident Advisory LLC lifted its position in shares of Rapid7 by 47.7% during the fourth quarter. Vident Advisory LLC now owns 33,818 shares of the technology company’s stock worth $1,360,000 after purchasing an additional 10,923 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Rapid7 by 87.7% during the fourth quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company’s stock valued at $430,000 after purchasing an additional 5,000 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Rapid7 by 48.7% in the fourth quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company’s stock valued at $5,719,000 after purchasing an additional 46,567 shares in the last quarter. Finally, Shapiro Capital Management LLC raised its position in Rapid7 by 295.9% in the 4th quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock worth $51,935,000 after purchasing an additional 964,899 shares during the last quarter. 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.