Rapid7 (NASDAQ:RPD) Reaches New 1-Year Low Following Analyst Downgrade

Rapid7, Inc. (NASDAQ:RPD - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday after Citigroup lowered their price target on the stock from $65.00 to $52.00. Citigroup currently has a buy rating on the stock. Rapid7 traded as low as $38.09 and last traded at $38.51, with a volume of 1860227 shares trading hands. The stock had previously closed at $45.80.

Several other brokerages have also recently weighed in on RPD. Mizuho reduced their price target on Rapid7 from $62.00 to $47.00 and set a "neutral" rating on the stock in a research note on Wednesday. Scotiabank initiated coverage on Rapid7 in a research note on Friday, April 26th. They issued a "sector perform" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Rapid7 from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, February 8th. StockNews.com cut Rapid7 from a "buy" rating to a "hold" rating in a research note on Wednesday, March 6th. Finally, Truist Financial cut their target price on Rapid7 from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $52.13.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company's stock, valued at $13,665,206.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total value of $1,683,751.89. Following the transaction, the chief operating officer now owns 257,494 shares of the company's stock, valued at $13,665,206.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew F. Burton sold 20,653 shares of the firm's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RPD. Fidelis Capital Partners LLC bought a new stake in Rapid7 during the 1st quarter valued at approximately $36,000. Mather Group LLC. bought a new stake in Rapid7 during the 1st quarter valued at approximately $42,000. International Assets Investment Management LLC raised its stake in Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company's stock valued at $55,000 after purchasing an additional 943 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rapid7 during the 1st quarter valued at approximately $83,000. Finally, Financial Connections Group Inc. purchased a new position in Rapid7 during the 4th quarter valued at approximately $95,000. Institutional investors own 95.66% of the company's stock.

Rapid7 Stock Performance

The firm has a market cap of $2.37 billion, a PE ratio of -15.14 and a beta of 1.01. The firm has a fifty day simple moving average of $49.04 and a two-hundred day simple moving average of $52.71.

Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million during the quarter, compared to analysts' expectations of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. Equities analysts forecast that Rapid7, Inc. will post 0.86 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.