Rapid7, Inc. (RPD) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Rapid7, Inc. (NASDAQ:RPD) posted its quarterly earnings data on Monday. The technology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04, Morningstar.com reports. The business had revenue of $47.44 million for the quarter, compared to analysts’ expectations of $46.31 million. Rapid7 had a negative net margin of 26.19% and a negative return on equity of 93.19%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) EPS. Rapid7 updated its Q3 guidance to ($0.18-0.16) EPS and its FY17 guidance to ($0.64-0.61) EPS.
Shares of Rapid7 (NASDAQ:RPD) traded up 2.59% during midday trading on Tuesday, reaching $15.45. 204,183 shares of the company’s stock traded hands. Rapid7 has a 12 month low of $10.63 and a 12 month high of $19.29. The stock has a 50 day moving average of $16.87 and a 200-day moving average of $15.97. The stock’s market cap is $654.08 million.
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In other news, COO Andrew F. Burton sold 37,843 shares of Rapid7 stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $16.95, for a total transaction of $641,438.85. Following the completion of the transaction, the chief operating officer now directly owns 238,158 shares in the company, valued at $4,036,778.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay C. Hoag sold 1,400,000 shares of Rapid7 stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $18.00, for a total transaction of $25,200,000.00. The disclosure for this sale can be found here. 56.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Rapid7 during the fourth quarter worth about $237,000. State Street Corp boosted its position in shares of Rapid7 by 0.9% in the fourth quarter. State Street Corp now owns 296,932 shares of the technology company’s stock worth $3,615,000 after buying an additional 2,758 shares in the last quarter. Strs Ohio boosted its position in shares of Rapid7 by 38.4% in the first quarter. Strs Ohio now owns 44,000 shares of the technology company’s stock worth $659,000 after buying an additional 12,200 shares in the last quarter. US Bancorp DE boosted its position in shares of Rapid7 by 594.0% in the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock worth $165,000 after buying an additional 9,385 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Rapid7 by 21.5% in the first quarter. Swiss National Bank now owns 24,300 shares of the technology company’s stock worth $364,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Several research firms recently commented on RPD. Susquehanna Bancshares Inc raised shares of Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective on the stock in a research report on Tuesday. UBS AG raised shares of Rapid7 from a “neutral” rating to a “positive” rating in a research report on Tuesday. ValuEngine cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub cut shares of Rapid7 from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Rapid7 in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Rapid7 has a consensus rating of “Hold” and a consensus target price of $19.93.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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