Wall Street brokerages predict that Rapid7 Inc (NASDAQ:RPD) will post sales of $59.66 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Rapid7’s earnings, with estimates ranging from $59.30 million to $60.00 million. Rapid7 reported sales of $50.52 million during the same quarter last year, which suggests a positive year over year growth rate of 18.1%. The company is expected to issue its next earnings report on Tuesday, November 6th.
On average, analysts expect that Rapid7 will report full-year sales of $239.10 million for the current financial year, with estimates ranging from $238.00 million to $240.00 million. For the next financial year, analysts forecast that the firm will post sales of $286.22 million per share, with estimates ranging from $280.45 million to $291.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Rapid7.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, August 6th. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.05. The firm had revenue of $58.40 million during the quarter, compared to the consensus estimate of $55.14 million. Rapid7 had a negative return on equity of 105.43% and a negative net margin of 24.40%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned ($0.14) earnings per share.
Several equities research analysts have recently weighed in on the company. BidaskClub raised Rapid7 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Monness Crespi & Hardt increased their price target on Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. KeyCorp increased their price target on Rapid7 from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. Stifel Nicolaus increased their price target on Rapid7 from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $40.00 price target on shares of Rapid7 in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.57.
In other Rapid7 news, insider Vii Lp Tcv sold 182,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total value of $6,931,496.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew F. Burton sold 9,492 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $32.53, for a total value of $308,774.76. The disclosure for this sale can be found here. Insiders have sold 258,532 shares of company stock valued at $9,571,570 in the last ninety days. 25.60% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Barclays PLC grew its stake in Rapid7 by 68.6% in the first quarter. Barclays PLC now owns 5,718 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,327 shares during the period. Centaurus Financial Inc. acquired a new stake in Rapid7 in the second quarter valued at approximately $169,000. Cubist Systematic Strategies LLC acquired a new stake in Rapid7 in the first quarter valued at approximately $213,000. Neuberger Berman Group LLC acquired a new stake in Rapid7 in the first quarter valued at approximately $230,000. Finally, Verition Fund Management LLC acquired a new stake in Rapid7 in the second quarter valued at approximately $327,000. 77.92% of the stock is owned by hedge funds and other institutional investors.
Shares of RPD stock opened at $37.66 on Friday. The stock has a market capitalization of $1.77 billion, a PE ratio of -36.09 and a beta of 1.12. Rapid7 has a 1-year low of $16.59 and a 1-year high of $39.40.
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.
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