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

Rapid7, Inc. (NASDAQ:RPD) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.98 and last traded at $26.47, with a volume of 43637 shares trading hands. The stock had previously closed at $27.59.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup decreased their price target on shares of Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Rapid7 in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on Rapid7 in a research report on Tuesday, March 18th. They set an “equal weight” rating and a $33.00 target price on the stock. UBS Group reduced their price target on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their target price on shares of Rapid7 from $42.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Fifteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of “Hold” and an average target price of $39.94.

Rapid7 Price Performance

The firm has a market capitalization of $1.68 billion, a PE ratio of 67.27 and a beta of 0.92. The business’s 50 day moving average is $33.10 and its two-hundred day moving average is $37.37.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data 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%. Analysts expect that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 431,469 shares of the company’s stock, valued at approximately $16,991,249.22. This represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Rapid7

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in Rapid7 by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 511,088 shares of the technology company’s stock valued at $20,387,000 after buying an additional 9,190 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rapid7 by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,078 shares of the technology company’s stock valued at $1,280,000 after acquiring an additional 965 shares in the last quarter. Verition Fund Management LLC bought a new stake in Rapid7 during the third quarter valued at approximately $1,341,000. Maverick Capital Ltd. bought a new position in Rapid7 in the third quarter worth approximately $1,679,000. Finally, Concentric Capital Strategies LP boosted its stake in shares of Rapid7 by 59.9% during the 3rd quarter. Concentric Capital Strategies LP now owns 43,457 shares of the technology company’s stock worth $1,734,000 after acquiring an additional 16,277 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

About Rapid7

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.