Rapid7 (NASDAQ:RPD) Sets New 52-Week Low – Here’s Why

Shares of Rapid7, Inc. (NASDAQ:RPD) reached a new 52-week low on Wednesday . The stock traded as low as $10.32 and last traded at $10.3320, with a volume of 92867 shares. The stock had previously closed at $10.66.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Rapid7 in a report on Monday, December 29th. Jefferies Financial Group dropped their target price on shares of Rapid7 from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Monday. Barclays lowered shares of Rapid7 from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $18.00 to $15.00 in a research note on Monday, January 5th. Truist Financial set a $14.00 price objective on shares of Rapid7 in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.53.

Rapid7 Price Performance

The firm has a market cap of $707.84 million, a price-to-earnings ratio of 31.79 and a beta of 0.79. The company’s fifty day moving average is $14.20 and its 200 day moving average is $17.20. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 7.01.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.45 by $0.12. Rapid7 had a net margin of 2.61% and a return on equity of 67.30%. The firm had revenue of $217.96 million for the quarter, compared to analysts’ expectations of $216.14 million. During the same period in the previous year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Rapid7, Inc. will post 0.35 EPS for the current year.

Insider Buying and Selling at Rapid7

In related news, Director Jana Partners Management, Lp purchased 41,545 shares of Rapid7 stock in a transaction that occurred on Friday, November 28th. The stock was purchased at an average cost of $15.71 per share, with a total value of $652,671.95. Following the completion of the transaction, the director owned 6,760,149 shares of the company’s stock, valued at approximately $106,201,940.79. This trade represents a 0.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Corey E. Thomas acquired 14,500 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were bought at an average price of $13.82 per share, for a total transaction of $200,390.00. Following the purchase, the chief executive officer owned 595,066 shares in the company, valued at approximately $8,223,812.12. This represents a 2.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 67,345 shares of company stock valued at $1,025,202 in the last ninety days. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RPD. Acadian Asset Management LLC lifted its position in Rapid7 by 136.7% during the second quarter. Acadian Asset Management LLC now owns 169,955 shares of the technology company’s stock worth $3,924,000 after acquiring an additional 98,161 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Rapid7 by 45.3% during the second quarter. Penserra Capital Management LLC now owns 2,731,192 shares of the technology company’s stock worth $63,172,000 after purchasing an additional 851,108 shares during the period. CenterBook Partners LP lifted its holdings in Rapid7 by 68.9% during the 2nd quarter. CenterBook Partners LP now owns 253,629 shares of the technology company’s stock worth $5,866,000 after purchasing an additional 103,504 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Rapid7 by 366.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 144,707 shares of the technology company’s stock valued at $2,713,000 after purchasing an additional 113,664 shares during the period. Finally, First Trust Advisors LP grew its holdings in Rapid7 by 4.6% in the 2nd quarter. First Trust Advisors LP now owns 1,543,770 shares of the technology company’s stock valued at $35,707,000 after buying an additional 67,801 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.