Rapid7 (NASDAQ:RPD) Reaches New 52-Week Low - Here's What Happened

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

Analyst Ratings Changes

A number of research analysts recently issued reports on RPD shares. Robert W. Baird cut their price objective on Rapid7 from $43.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Barclays decreased their price target on shares of Rapid7 from $35.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. StockNews.com upgraded Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, February 21st. UBS Group reduced their price objective on shares of Rapid7 from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial decreased their target price on Rapid7 from $38.00 to $35.00 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $37.32.

Rapid7 Stock Performance

The firm has a fifty day moving average price of $26.90 and a 200 day moving average price of $35.41. The stock has a market cap of $1.54 billion, a PE ratio of 61.72 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.38). Rapid7 had a negative return on equity of 130.41% and a net margin of 3.46%. On average, equities research analysts forecast that Rapid7, Inc. will post 0.35 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, insider Christina Luconi sold 12,551 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $23.12, for a total value of $290,179.12. Following the completion of the transaction, the insider now owns 58,165 shares in the company, valued at approximately $1,344,774.80. This represents a 17.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Rapid7

Hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new position in Rapid7 during the first quarter worth $29,000. Versant Capital Management Inc increased its holdings in shares of Rapid7 by 5,311.1% during the 1st quarter. Versant Capital Management Inc now owns 1,461 shares of the technology company's stock worth $39,000 after buying an additional 1,434 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Rapid7 by 68.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,116 shares of the technology company's stock valued at $46,000 after purchasing an additional 455 shares during the period. Pacer Advisors Inc. raised its holdings in Rapid7 by 30.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,487 shares of the technology company's stock valued at $60,000 after buying an additional 347 shares during the period. Finally, Ostrum Asset Management lifted its holdings in shares of Rapid7 by 45.3% in the 4th quarter. Ostrum Asset Management now owns 2,478 shares of the technology company's stock worth $100,000 after acquiring an additional 772 shares during the last quarter. Hedge funds and other 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.