Rapid7 (NASDAQ:RPD) Sets New 52-Week Low After Analyst Downgrade

Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low 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 changing hands. The stock had previously closed at $27.59.

Other equities research analysts have also issued research reports about the company. Citigroup decreased their price objective on Rapid7 from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, February 13th. 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 note on Thursday, February 13th. Robert W. Baird dropped their price target on shares of Rapid7 from $43.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley started 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. Sixteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and an average target price of $39.05.

Insider Buying and Selling at Rapid7

In related news, CEO Corey E. Thomas sold 100,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $39.38, for a total value of $3,938,000.00. Following the transaction, the chief executive officer now owns 431,469 shares of the company’s stock, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapid7

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Rapid7 by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,618,480 shares of the technology company’s stock worth $346,721,000 after buying an additional 60,095 shares during the last quarter. JANA Partners Management LP lifted its holdings in shares of Rapid7 by 0.9% in the 4th quarter. JANA Partners Management LP now owns 3,690,129 shares of the technology company’s stock worth $148,454,000 after acquiring an additional 34,589 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rapid7 by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,462,007 shares of the technology company’s stock valued at $58,330,000 after purchasing an additional 15,287 shares in the last quarter. Shapiro Capital Management LLC grew its holdings 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 valued at $51,935,000 after purchasing an additional 964,899 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Rapid7 by 6.8% in the 4th quarter. First Trust Advisors LP now owns 1,255,731 shares of the technology company’s stock worth $50,518,000 after purchasing an additional 79,836 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Rapid7 Price Performance

The firm’s 50 day simple moving average is $32.60 and its two-hundred day simple moving average is $37.27. The firm has a market capitalization of $1.71 billion, a P/E ratio of 68.67 and a beta of 0.92.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. As a group, equities research analysts forecast that Rapid7, Inc. will post 0.35 EPS for the current 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.