Rapid7 (NASDAQ:RPD) Hits New 1-Year Low – Time to Sell?

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. The stock had previously closed at $31.48.

Analyst Ratings Changes

A number of research analysts have commented on the stock. DA Davidson upped their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. Truist Financial cut their target price on Rapid7 from $38.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird lowered their price target on Rapid7 from $43.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup cut their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating on the stock in a report 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. According to MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus target price of $41.22.

Rapid7 Trading Down 2.2 %

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 78.92 and a beta of 0.96. The firm’s 50 day simple moving average is $38.17 and its 200-day simple moving average is $38.69.

Rapid7 (NASDAQ:RPD) last issued its 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 net margin of 3.46% and a negative return on equity of 130.41%. As a group, sell-side analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’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. The trade was a 18.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RPD. Creative Planning purchased a new stake in Rapid7 in the third quarter valued at approximately $253,000. International Assets Investment Management LLC boosted its position in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after purchasing an additional 661 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Rapid7 in the third quarter worth about $948,000. 1620 Investment Advisors Inc. grew its position in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Rapid7 by 491.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 80,464 shares of the technology company’s stock valued at $3,210,000 after purchasing an additional 66,854 shares in 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.