Rapid7 Shares Jump 12.6% as Okta's Strong Earnings Lift Cybersecurity Sector

Rapid7 (NASDAQ:RPD) shares surged 12.6% on May 29, 2026, propelled by a broader cybersecurity rally after peer Okta (OKTA) reported first-quarter results that beat expectations and raised its full-year earnings per share forecast. Okta’s stock soared more than 20%, and the positive sentiment spread to other cybersecurity firms, including CrowdStrike (CRWD) and Palo Alto Networks (PANW). The sector also benefits from rising demand to secure artificial intelligence workloads, which is driving revenue growth and higher market valuations. Rapid7 closed at $8.38. The move is significant for the volatile stock, which has recorded 32 intraday moves exceeding 5% over the past year. Despite the gain, Rapid7 remains down 41.3% year-to-date and trades 67.3% below its 52-week high of $25.59 set in July 2025.