$75.22 Million in Sales Expected for Rapid7 Inc (RPD) This Quarter

Equities analysts expect Rapid7 Inc (NASDAQ:RPD) to report sales of $75.22 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Rapid7’s earnings, with estimates ranging from $74.89 million to $75.90 million. Rapid7 posted sales of $58.44 million during the same quarter last year, which suggests a positive year over year growth rate of 28.7%. The business is scheduled to report its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Rapid7 will report full year sales of $315.41 million for the current year, with estimates ranging from $313.20 million to $317.50 million. For the next year, analysts expect that the company will post sales of $388.12 million, with estimates ranging from $376.00 million to $400.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Rapid7.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.24. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $69.86 million. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year.

Several research analysts recently commented on RPD shares. Needham & Company LLC lifted their price target on Rapid7 from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. BTIG Research raised their price objective on shares of Rapid7 to $62.00 and gave the stock a “positive” rating in a research note on Friday, May 3rd. Robert W. Baird initiated coverage on shares of Rapid7 in a research note on Wednesday, April 3rd. They issued an “outperform” rating and a $58.00 price objective for the company. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price target on shares of Rapid7 from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.67.

Rapid7 stock traded down $0.39 during trading on Tuesday, reaching $54.13. The company had a trading volume of 5,271 shares, compared to its average volume of 593,176. Rapid7 has a 52 week low of $26.27 and a 52 week high of $57.00. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $2.51 billion, a P/E ratio of -53.61 and a beta of 1.20.

In related news, Director Thomas E. Schodorf sold 600 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $45.99, for a total transaction of $27,594.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew F. Burton sold 22,500 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $51.71, for a total transaction of $1,163,475.00. The disclosure for this sale can be found here. Insiders have sold 87,950 shares of company stock worth $4,328,357 over the last three months. Corporate insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. SQN Investors LP lifted its position in Rapid7 by 260.8% during the fourth quarter. SQN Investors LP now owns 1,567,865 shares of the technology company’s stock valued at $48,855,000 after purchasing an additional 1,133,289 shares during the period. Wellington Management Group LLP raised its position in shares of Rapid7 by 185.2% in the first quarter. Wellington Management Group LLP now owns 1,488,818 shares of the technology company’s stock worth $75,348,000 after acquiring an additional 966,823 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Rapid7 in the fourth quarter worth about $27,223,000. Castle Hook Partners LP acquired a new position in shares of Rapid7 in the first quarter worth about $22,736,000. Finally, Pictet Asset Management Ltd. acquired a new position in shares of Rapid7 in the first quarter worth about $21,259,000. Institutional investors own 85.13% of the company’s stock.

About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enable 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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