Brokerages expect that Rapid7 Inc (NASDAQ:RPD) will report $59.66 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Rapid7’s earnings. The lowest sales estimate is $59.30 million and the highest is $60.00 million. Rapid7 reported sales of $50.52 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Rapid7 will report full year sales of $239.10 million for the current year, with estimates ranging from $238.00 million to $240.00 million. For the next fiscal year, analysts expect that the firm will post sales of $286.22 million per share, with estimates ranging from $280.45 million to $291.50 million. Zacks’ sales averages are an average based on a survey of analysts that follow Rapid7.
Rapid7 (NASDAQ:RPD) last released its earnings results on Monday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $55.14 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) earnings per share.
A number of analysts recently issued reports on the company. KeyCorp raised their price target on Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 7th. Monness Crespi & Hardt lifted their target price on Rapid7 from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. BidaskClub raised Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 target price on shares of Rapid7 in a report on Tuesday, August 7th. Finally, BTIG Research downgraded Rapid7 from a “buy” rating to a “neutral” rating in a report on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.57.
Shares of RPD stock traded down $1.70 on Friday, reaching $36.10. The company’s stock had a trading volume of 29,053 shares, compared to its average volume of 518,035. Rapid7 has a 1 year low of $16.59 and a 1 year high of $39.40. The firm has a market cap of $1.76 billion, a PE ratio of -34.29 and a beta of 1.12.
In other news, COO Andrew F. Burton sold 10,000 shares of the company’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $32.79, for a total value of $327,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeffrey Kalowski sold 20,000 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $32.65, for a total value of $653,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,532 shares of company stock valued at $9,571,570. 25.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of RPD. BlackRock Inc. lifted its stake in Rapid7 by 64.5% during the 2nd quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock worth $72,171,000 after acquiring an additional 1,002,292 shares in the last quarter. Legal & General Group Plc raised its position in Rapid7 by 14,618.1% in the 1st quarter. Legal & General Group Plc now owns 796,985 shares of the technology company’s stock valued at $20,379,000 after purchasing an additional 791,570 shares in the last quarter. Emerald Advisers Inc. PA acquired a new stake in Rapid7 in the 2nd quarter valued at about $22,119,000. Loomis Sayles & Co. L P acquired a new stake in Rapid7 in the 1st quarter valued at about $19,486,000. Finally, GW&K Investment Management LLC acquired a new stake in Rapid7 in the 1st quarter valued at about $19,103,000. 77.92% of the stock is currently owned by hedge funds and other institutional investors.
Rapid7 Company Profile
Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.
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