Rapid7 (NASDAQ:RPD) Hits New 52-Week Low – Here’s What Happened

Rapid7, Inc. (NASDAQ:RPD) shares hit a new 52-week low during trading 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.

Analysts Set New Price Targets

RPD has been the subject of a number of recent research reports. Scotiabank lowered their target price on Rapid7 from $42.00 to $38.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Finally, UBS Group dropped 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. Fifteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.22.

Rapid7 Trading Down 4.6 %

The company has a market cap of $1.79 billion, a price-to-earnings ratio of 71.49 and a beta of 0.92. The stock has a 50-day simple moving average of $36.42 and a 200-day simple moving average of $38.23.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (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, research analysts expect 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 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 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ grew its position in Rapid7 by 68.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company’s stock worth $46,000 after purchasing an additional 455 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Rapid7 by 30.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company’s stock worth $60,000 after buying an additional 347 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Rapid7 during the third quarter valued at $69,000. Ostrum Asset Management raised its position in Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company’s stock valued at $100,000 after buying an additional 772 shares during the period. Finally, KBC Group NV lifted its stake in Rapid7 by 47.7% in the 4th quarter. KBC Group NV now owns 2,686 shares of the technology company’s stock worth $108,000 after acquiring an additional 867 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.