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

Shares of Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low on Monday . The stock traded as low as $22.08 and last traded at $23.31, with a volume of 484585 shares traded. The stock had previously closed at $23.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RPD shares. Citigroup reduced their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stephens assumed coverage on Rapid7 in a research report on Tuesday, April 1st. They issued an “equal weight” rating and a $33.00 target price on the stock. Morgan Stanley initiated coverage on Rapid7 in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 price target for the company. UBS Group cut their price objective on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Fifteen equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.05.

Rapid7 Price Performance

The firm has a 50 day moving average of $31.48 and a two-hundred day moving average of $37.01. The stock has a market cap of $1.49 billion, a PE ratio of 59.67 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a net margin of 3.46% and a negative return on equity of 130.41%. As a group, equities analysts anticipate 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 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 directly owns 431,469 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently added to or reduced their stakes in RPD. Shapiro Capital Management LLC boosted its holdings in shares of Rapid7 by 295.9% in the fourth quarter. Shapiro Capital Management LLC now owns 1,290,945 shares of the technology company’s stock valued at $51,935,000 after acquiring an additional 964,899 shares in the last quarter. Estuary Capital Management LP purchased a new position in shares of Rapid7 during the 4th quarter worth approximately $20,714,000. Dendur Capital LP acquired a new stake in shares of Rapid7 in the 4th quarter valued at approximately $19,190,000. Raymond James Financial Inc. purchased a new stake in shares of Rapid7 during the 4th quarter worth $12,050,000. Finally, Marshall Wace LLP grew its stake in shares of Rapid7 by 144.2% during the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company’s stock worth $19,137,000 after purchasing an additional 280,913 shares during the period. Institutional investors and hedge funds 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.