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

Shares of Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low during trading on Tuesday . The stock traded as low as $27.95 and last traded at $28.35, with a volume of 1103847 shares trading hands. The stock had previously closed at $29.09.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reduced their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Raymond James reduced their price target on shares of Rapid7 from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. 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. Finally, Robert W. Baird reduced their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” 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, the company has an average rating of “Hold” and an average target price of $41.22.

Rapid7 Trading Up 0.0 %

The business’s 50 day moving average is $37.10 and its 200 day moving average is $38.43. The stock has a market capitalization of $1.81 billion, a PE ratio of 73.54 and a beta of 0.96.

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

Insider Activity

In related 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 transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RPD. Shapiro Capital Management LLC raised its stake in shares of 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 acquiring an additional 964,899 shares in the last quarter. Estuary Capital Management LP bought a new position in shares of Rapid7 during the 4th quarter worth approximately $20,714,000. Dendur Capital LP bought a new position in shares of Rapid7 during the 4th quarter worth approximately $19,190,000. Raymond James Financial Inc. purchased a new stake in Rapid7 during the 4th quarter worth approximately $12,050,000. Finally, Marshall Wace LLP grew its position in 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 last quarter. Institutional investors 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.