Rapid7 (RPD) Announces Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Rapid7 (NASDAQ:RPD) posted its quarterly earnings data on Monday. The technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.11), Morningstar.com reports. Rapid7 had a negative return on equity of 115.79% and a negative net margin of 22.44%. The company had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.39 million. During the same quarter last year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis.

Rapid7 (RPD) traded down $0.58 on Tuesday, reaching $23.15. 1,351,700 shares of the company’s stock were exchanged, compared to its average volume of 500,383. Rapid7 has a 12-month low of $13.42 and a 12-month high of $25.95. The firm has a market cap of $1,080.99, a price-to-earnings ratio of -23.38 and a beta of 1.12.

Several research analysts recently weighed in on RPD shares. Royal Bank of Canada boosted their price objective on shares of Rapid7 from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $23.00 target price on shares of Rapid7 in a report on Thursday, December 14th. Zacks Investment Research lowered shares of Rapid7 from a “buy” rating to a “hold” rating in a report on Friday, January 19th. ValuEngine raised shares of Rapid7 from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BidaskClub lowered shares of Rapid7 from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Rapid7 has a consensus rating of “Buy” and an average target price of $24.29.

In other news, Chairman Alan Matthews sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $22.06, for a total value of $441,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $42,020,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,447,711 shares of company stock valued at $51,043,856 in the last ninety days. Company insiders own 56.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in RPD. Crow Point Partners LLC acquired a new position in shares of Rapid7 in the 4th quarter valued at $119,000. Fortaleza Asset Management Inc. acquired a new position in shares of Rapid7 in the 4th quarter valued at $160,000. Citigroup Inc. grew its holdings in shares of Rapid7 by 1,398.9% in the 2nd quarter. Citigroup Inc. now owns 9,788 shares of the technology company’s stock valued at $165,000 after buying an additional 9,135 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Rapid7 in the 3rd quarter valued at $187,000. Finally, Hamilton Lane Advisors LLC acquired a new position in shares of Rapid7 in the 4th quarter valued at $207,000. 68.49% of the stock is owned by institutional investors.

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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.

Earnings History for Rapid7 (NASDAQ:RPD)

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