-$0.17 EPS Expected for Rapid7, Inc. (RPD) This Quarter
Wall Street analysts expect Rapid7, Inc. (NASDAQ:RPD) to announce earnings of ($0.17) per share for the current quarter, according to Zacks. Five analysts have issued estimates for Rapid7’s earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.16). Rapid7 posted earnings per share of ($0.13) during the same quarter last year, which indicates a negative year over year growth rate of 30.8%. The business is expected to issue its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Rapid7 will report full-year earnings of ($0.62) per share for the current year, with EPS estimates ranging from ($0.63) to ($0.61). For the next fiscal year, analysts expect that the business will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.57) to ($0.39). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Rapid7.
Rapid7 (NASDAQ:RPD) last announced its earnings results on Monday, August 7th. The technology company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $47.44 million during the quarter, compared to analysts’ expectations of $46.31 million. Rapid7 had a negative net margin of 23.67% and a negative return on equity of 98.26%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the company posted ($0.22) earnings per share.
RPD has been the topic of a number of recent research reports. Needham & Company LLC assumed coverage on shares of Rapid7 in a research note on Monday, October 23rd. They set a “buy” rating and a $23.00 price target on the stock. ValuEngine cut Rapid7 from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub cut Rapid7 from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Zacks Investment Research cut Rapid7 from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, UBS AG upgraded Rapid7 from a “neutral” rating to a “positive” rating and set a $20.00 target price for the company in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.50.
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In other news, insider Lee David Weiner sold 21,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $16.64, for a total transaction of $349,440.00. Following the sale, the insider now directly owns 77,212 shares of the company’s stock, valued at approximately $1,284,807.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Alan Matthews sold 52,770 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $17.22, for a total value of $908,699.40. Following the sale, the chairman now directly owns 3,152,177 shares in the company, valued at $54,280,487.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,895 shares of company stock worth $1,979,911. 56.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Citigroup Inc. grew its holdings in shares of Rapid7 by 1,398.9% during the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock worth $165,000 after purchasing an additional 9,135 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Rapid7 in the second quarter valued at about $169,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Rapid7 by 25.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,352 shares of the technology company’s stock valued at $173,000 after buying an additional 2,124 shares in the last quarter. American International Group Inc. boosted its stake in Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after buying an additional 815 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Rapid7 in the first quarter valued at about $218,000. 70.88% of the stock is currently owned by institutional investors.
Rapid7 (NASDAQ RPD) opened at $18.18 on Friday. Rapid7 has a twelve month low of $10.63 and a twelve month high of $19.29.
Rapid7 Company Profile
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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