Rapid7, Inc. (RPD) Expected to Post Quarterly Sales of $49.89 Million
Wall Street analysts expect Rapid7, Inc. (NASDAQ:RPD) to report $49.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Rapid7’s earnings. The lowest sales estimate is $49.60 million and the highest is $50.30 million. Rapid7 reported sales of $40.34 million during the same quarter last year, which indicates a positive year over year growth rate of 23.7%. The company is expected to issue its next earnings report on Wednesday, November 8th.
On average, analysts expect that Rapid7 will report full-year sales of $49.89 million for the current year, with estimates ranging from $196.00 million to $198.00 million. For the next fiscal year, analysts expect that the business will post sales of $237.75 million per share, with estimates ranging from $234.90 million to $240.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Rapid7.
Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Monday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. The business had revenue of $47.44 million during the quarter, compared to analyst estimates of $46.31 million. Rapid7 had a negative return on equity of 98.26% and a negative net margin of 23.67%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) EPS.
Several research analysts have recently weighed in on RPD shares. ValuEngine cut Rapid7 from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Monness Crespi & Hardt started coverage on Rapid7 in a research report on Tuesday, May 30th. They set a “buy” rating and a $23.00 price objective for the company. BidaskClub raised Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. UBS AG raised Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 8th. Finally, Zacks Investment Research cut Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Shares of Rapid7 (NASDAQ RPD) traded down 0.23% during midday trading on Monday, hitting $17.38. The stock had a trading volume of 61,344 shares. The firm’s 50-day moving average is $16.14 and its 200 day moving average is $16.48. Rapid7 has a one year low of $10.63 and a one year high of $19.29. The company’s market capitalization is $749.27 million.
In related news, COO Andrew F. Burton sold 37,843 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was 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 of the company’s stock, valued at $4,036,778.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lee David Weiner sold 21,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $16.64, for a total value of $349,440.00. Following the transaction, the insider now directly owns 77,212 shares of the company’s stock, valued at $1,284,807.68. The disclosure for this sale can be found here. Corporate insiders own 56.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors Inc. boosted its position in Rapid7 by 51.1% during the second quarter. Wasatch Advisors Inc. now owns 1,975,177 shares of the technology company’s stock valued at $33,242,000 after purchasing an additional 668,273 shares during the last quarter. Vanguard Group Inc. boosted its position in Rapid7 by 6.5% during the second quarter. Vanguard Group Inc. now owns 1,428,575 shares of the technology company’s stock valued at $24,044,000 after purchasing an additional 87,101 shares during the last quarter. ETF Managers Group LLC acquired a new position in Rapid7 during the second quarter valued at approximately $19,395,000. Voya Investment Management LLC boosted its position in Rapid7 by 3.3% during the second quarter. Voya Investment Management LLC now owns 995,428 shares of the technology company’s stock valued at $16,754,000 after purchasing an additional 31,664 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in Rapid7 by 28.0% during the first quarter. Penserra Capital Management LLC now owns 932,188 shares of the technology company’s stock valued at $13,964,000 after purchasing an additional 204,188 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.
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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