Rapid7 (NASDAQ:RPD) Sets New 1-Year Low After Analyst Downgrade

Rapid7, Inc. (NASDAQ:RPD - Get Free Report)'s share price hit a new 52-week low during trading on Monday after Jefferies Financial Group lowered their price target on the stock from $45.00 to $35.00. Jefferies Financial Group currently has a buy rating on the stock. Rapid7 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.

Several other research analysts have also weighed in on the company. Barclays reduced their target price on Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Citigroup cut their price target on shares of Rapid7 from $46.00 to $44.00 and set a "buy" rating on the stock 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. Finally, Truist Financial cut their price objective on shares of Rapid7 from $38.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. Fifteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of "Hold" and an average price target of $39.05.

Insider Activity

In other news, CEO Corey E. Thomas sold 100,000 shares of the firm's stock in a transaction dated 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 owns 431,469 shares in the company, valued at approximately $16,991,249.22. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapid7

Several institutional investors and hedge funds have recently made changes to their positions in RPD. Versant Capital Management Inc boosted its stake in shares of Rapid7 by 5,311.1% in the first quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock valued at $39,000 after buying an additional 1,434 shares during the period. CSS LLC IL bought a new position in Rapid7 in the 4th quarter valued at about $837,000. Vident Advisory LLC raised its position in shares of Rapid7 by 47.7% in the 4th quarter. Vident Advisory LLC now owns 33,818 shares of the technology company's stock valued at $1,360,000 after buying an additional 10,923 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Rapid7 by 87.7% during the 4th quarter. Two Sigma Advisers LP now owns 10,700 shares of the technology company's stock worth $430,000 after acquiring an additional 5,000 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Rapid7 by 48.7% during the 4th quarter. Two Sigma Investments LP now owns 142,167 shares of the technology company's stock worth $5,719,000 after acquiring an additional 46,567 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Rapid7 Stock Down 7.4 %

The business's 50 day moving average is $32.09 and its 200-day moving average is $37.13. The firm has a market capitalization of $1.51 billion, a P/E ratio of 60.72 and a beta of 0.99.

Rapid7 (NASDAQ:RPD - Get Free Report) 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 net margin of 3.46% and a negative return on equity of 130.41%. Research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current fiscal year.

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.