Rapid7 (NASDAQ:RPD) Reaches New 12-Month Low After Analyst Downgrade

Rapid7, Inc. (NASDAQ:RPD - Get Free Report) shares hit a new 52-week low during mid-day 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. The stock had previously closed at $27.59.

Several other analysts also recently commented on the company. UBS Group reduced their price objective on Rapid7 from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Morgan Stanley began coverage on Rapid7 in a report on Tuesday, March 18th. They set an "equal weight" rating and a $33.00 price target for the company. DA Davidson reduced their target price on shares of Rapid7 from $35.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Barclays dropped their price target on shares of Rapid7 from $43.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus reduced their price objective 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.05.

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Insider Transactions at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 431,469 shares of the company's stock, valued at $16,991,249.22. The trade was a 18.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Rapid7 by 68.8% during the fourth 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. lifted its position in shares of Rapid7 by 30.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock worth $60,000 after purchasing an additional 347 shares in the last quarter. Ostrum Asset Management lifted its position in shares of Rapid7 by 45.3% during the fourth quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after purchasing an additional 772 shares in the last quarter. KBC Group NV boosted its stake in shares of Rapid7 by 47.7% in the fourth quarter. KBC Group NV now owns 2,686 shares of the technology company's stock valued at $108,000 after purchasing an additional 867 shares during the period. Finally, One68 Global Capital LLC acquired a new stake in Rapid7 during the 4th quarter valued at $201,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Price Performance

The firm has a market capitalization of $1.69 billion, a PE ratio of 67.60 and a beta of 0.99. The stock has a 50-day moving average price of $32.60 and a 200-day moving average price of $37.27.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data 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, equities research analysts predict that Rapid7, Inc. will post 0.35 earnings per share for the current fiscal year.

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.