Rapid7 (NASDAQ:RPD) Sets New 12-Month Low – Here’s Why

Rapid7, Inc. (NASDAQ:RPD)’s stock price hit a new 52-week low during trading 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RPD shares. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a report on Thursday, February 13th. UBS Group lowered their target price on Rapid7 from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Raymond James cut their price target on Rapid7 from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Barclays lowered their price objective on shares of Rapid7 from $43.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, 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 report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.05.

Rapid7 Stock Performance

The company’s fifty day moving average price is $31.48 and its two-hundred day moving average price is $37.01. The firm has a market capitalization of $1.49 billion, a PE ratio of 59.67 and a beta of 0.99.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, equities analysts expect that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Activity at Rapid7

In other Rapid7 news, CEO Corey E. Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total transaction of $3,938,000.00. Following the completion of the sale, the chief executive officer now directly owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in Rapid7 by 100.8% in the fourth quarter. Nordea Investment Management AB now owns 75,109 shares of the technology company’s stock valued at $3,030,000 after acquiring an additional 37,708 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Rapid7 in the 4th quarter valued at about $539,000. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 during the fourth quarter valued at about $12,050,000. Stifel Financial Corp acquired a new position in shares of Rapid7 in the 3rd quarter valued at approximately $1,006,000. Finally, Principal Financial Group Inc. boosted its stake in Rapid7 by 13.9% during the 4th quarter. Principal Financial Group Inc. now owns 54,306 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 6,645 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.