Rapid7 (NASDAQ:RPD) Reaches New 52-Week Low - Should You Sell?

Rapid7, Inc. (NASDAQ:RPD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $21.77 and last traded at $21.79, with a volume of 92517 shares changing hands. The stock had previously closed at $22.56.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RPD shares. Raymond James lowered their price target on Rapid7 from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Rapid7 from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Robert W. Baird dropped their price target on Rapid7 from $43.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price target on Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley lowered their price objective on Rapid7 from $33.00 to $26.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Fifteen research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $37.32.

Rapid7 Stock Performance

The company has a 50-day simple moving average of $27.34 and a 200 day simple moving average of $35.65. The company has a market capitalization of $1.51 billion, a P/E ratio of 60.64 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.12 earnings per share (EPS) 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 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total transaction of $290,179.12. Following the sale, the insider now owns 58,165 shares of the company's stock, valued at $1,344,774.80. This represents a 17.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Shapiro Capital Management LLC grew its position 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 buying an additional 964,899 shares during the period. Estuary Capital Management LP acquired a new position in shares of Rapid7 in the 4th quarter valued at approximately $20,714,000. Dendur Capital LP acquired a new stake in shares of Rapid7 during the fourth quarter worth $19,190,000. Raymond James Financial Inc. acquired a new stake in shares of Rapid7 in the 4th quarter valued at about $12,050,000. Finally, Marshall Wace LLP lifted its stake in Rapid7 by 144.2% in the 4th quarter. Marshall Wace LLP now owns 475,695 shares of the technology company's stock valued at $19,137,000 after acquiring an additional 280,913 shares in 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.