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

Shares of Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $30.62 and last traded at $30.78, with a volume of 683844 shares trading hands. The stock had previously closed at $31.48.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird cut their price objective on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Raymond James decreased their target price on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reduced their target price on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Finally, Truist Financial lowered their target price on shares of Rapid7 from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Rapid7 has a consensus rating of “Hold” and an average target price of $41.22.

Rapid7 Stock Down 2.2 %

The company has a market capitalization of $1.95 billion, a PE ratio of 78.92 and a beta of 0.96. The business has a 50 day simple moving average of $38.17 and a 200 day simple moving average of $38.69.

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

Insider Transactions at Rapid7

In related 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 sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CSS LLC IL acquired a new position in shares of Rapid7 during the fourth quarter valued at approximately $837,000. Vident Advisory LLC increased 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 raised its stake in Rapid7 by 87.7% in the 4th 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 lifted its holdings in Rapid7 by 48.7% in the 4th 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 boosted its stake in Rapid7 by 295.9% during 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 and hedge funds 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.