Rapid7 (NASDAQ:RPD) Hits New 1-Year Low on Analyst Downgrade

Shares of Rapid7, Inc. (NASDAQ:RPD) hit a new 52-week low during trading on Monday after Canaccord Genuity Group lowered their price target on the stock from $39.00 to $32.00. Canaccord Genuity Group currently has a hold rating on the stock. Rapid7 traded as low as $17.83 and last traded at $18.04, with a volume of 2167037 shares. The stock had previously closed at $19.82.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Rapid7 from $29.00 to $22.00 and set a “hold” rating for the company in a research report on Friday. Royal Bank Of Canada dropped their target price on shares of Rapid7 from $27.00 to $23.00 and set a “sector perform” rating for the company in a research report on Friday. UBS Group lowered their price objective on shares of Rapid7 from $39.00 to $34.00 and set a “buy” rating for the company in a research report on Friday. Wall Street Zen raised shares of Rapid7 from a “hold” rating to a “buy” rating in a research report on Sunday, August 3rd. Finally, Jefferies Financial Group set a $27.00 price objective on shares of Rapid7 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average price target of $27.67.

Institutional Trading of Rapid7

Several large investors have recently modified their holdings of the company. Y.D. More Investments Ltd boosted its holdings in shares of Rapid7 by 48.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 8,686 shares of the technology company’s stock worth $197,000 after buying an additional 2,847 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Rapid7 by 8.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,253 shares of the technology company’s stock worth $330,000 after buying an additional 1,074 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rapid7 by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,538,756 shares of the technology company’s stock worth $35,596,000 after buying an additional 25,546 shares during the period. Acadian Asset Management LLC grew its position in Rapid7 by 136.7% in the 2nd quarter. Acadian Asset Management LLC now owns 169,955 shares of the technology company’s stock worth $3,924,000 after purchasing an additional 98,161 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in Rapid7 by 45.3% in the 2nd 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 last quarter. 95.66% of the stock is owned by institutional investors.

Rapid7 Stock Up 5.0%

The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 45.78 and a beta of 0.96. The firm’s 50-day simple moving average is $22.78 and its 200-day simple moving average is $26.17.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.14. The company had revenue of $214.19 million for the quarter, compared to analyst estimates of $212.17 million. Rapid7 had a net margin of 3.41% and a return on equity of 269.59%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. Sell-side analysts forecast that Rapid7, Inc. will post 0.35 earnings per share 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.