Rapid7 (NASDAQ:RPD) announced its quarterly earnings data on Tuesday. The technology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05, Morningstar.com reports. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $59.50 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. Rapid7 updated its Q4 guidance to ($0.10)-($0.08) EPS.
NASDAQ:RPD traded up $3.62 during mid-day trading on Wednesday, hitting $37.14. The company’s stock had a trading volume of 1,829,297 shares, compared to its average volume of 474,874. Rapid7 has a 1 year low of $17.64 and a 1 year high of $39.40. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -35.37 and a beta of 1.02.
In other news, COO Andrew F. Burton sold 9,492 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $32.53, for a total transaction of $308,774.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vii Lp Tcv sold 182,600 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total transaction of $6,931,496.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,732 shares of company stock worth $9,505,242. 25.60% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of 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. Federated Investors Inc. PA boosted its stake in shares of Rapid7 by 8.2% during the 2nd quarter. Federated Investors Inc. PA now owns 1,193,800 shares of the technology company’s stock worth $33,689,000 after acquiring an additional 90,800 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rapid7 by 27.5% during the 2nd quarter. Renaissance Technologies LLC now owns 999,200 shares of the technology company’s stock worth $28,197,000 after acquiring an additional 215,700 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Rapid7 by 1.6% during the 2nd quarter. Voya Investment Management LLC now owns 896,598 shares of the technology company’s stock worth $25,302,000 after acquiring an additional 14,478 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its stake in shares of Rapid7 by 10.5% during the 3rd quarter. Emerald Advisers Inc. PA now owns 865,896 shares of the technology company’s stock worth $31,969,000 after acquiring an additional 82,086 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. Morgan Stanley set a $35.00 price objective on shares of Rapid7 and gave the company a “hold” rating in a report on Wednesday. Monness Crespi & Hardt upped their price target on shares of Rapid7 from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday. BidaskClub lowered shares of Rapid7 from a “strong-buy” rating to a “buy” rating in a report on Wednesday. KeyCorp upped their price target on shares of Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, October 10th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.79.
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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.
Further Reading: Dollar Cost Averaging
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