Rapid7 (NASDAQ:RPD) Posts Earnings Results, Beats Estimates By $0.26 EPS

Rapid7 (NASDAQ:RPD) announced its quarterly earnings data on Thursday. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.26, Briefing.com reports. Rapid7 had a negative return on equity of 46.34% and a negative net margin of 19.35%. The company had revenue of $78.96 million during the quarter, compared to the consensus estimate of $75.14 million. During the same period in the previous year, the company posted ($0.13) EPS. The firm’s revenue was up 35.1% on a year-over-year basis.

Shares of NASDAQ RPD traded down $2.44 during midday trading on Friday, reaching $58.62. 14,257 shares of the stock traded hands, compared to its average volume of 464,005. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $3.07 billion, a PE ratio of -57.92 and a beta of 1.18. Rapid7 has a one year low of $26.27 and a one year high of $66.01. The stock has a 50 day moving average of $59.58.

Several research analysts have weighed in on the company. Monness Crespi & Hardt restated a “buy” rating and issued a $72.00 price target (up from $62.00) on shares of Rapid7 in a research note on Monday. Morgan Stanley set a $53.00 price target on Rapid7 and gave the stock a “hold” rating in a research note on Friday, May 3rd. DA Davidson upped their price target on Rapid7 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Needham & Company LLC upped their price target on Rapid7 from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays restated a “buy” rating and issued a $69.00 price target on shares of Rapid7 in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Rapid7 presently has a consensus rating of “Buy” and a consensus target price of $61.76.

In other news, CEO Corey E. Thomas sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.58, for a total transaction of $262,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter Kaes sold 17,500 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $52.45, for a total value of $917,875.00. The disclosure for this sale can be found here. Insiders have sold a total of 129,537 shares of company stock valued at $6,675,522 over the last quarter. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its position in shares of Rapid7 by 5.1% during the 1st quarter. Federated Investors Inc. PA now owns 1,308,272 shares of the technology company’s stock valued at $66,212,000 after acquiring an additional 64,055 shares during the last quarter. Columbus Circle Investors raised its holdings in Rapid7 by 2.0% during the 2nd quarter. Columbus Circle Investors now owns 822,459 shares of the technology company’s stock valued at $47,571,000 after buying an additional 16,137 shares during the period. Wells Fargo & Company MN raised its holdings in Rapid7 by 10.2% during the 1st quarter. Wells Fargo & Company MN now owns 820,929 shares of the technology company’s stock valued at $41,547,000 after buying an additional 75,883 shares during the period. Northern Trust Corp raised its holdings in Rapid7 by 1.3% during the 4th quarter. Northern Trust Corp now owns 474,273 shares of the technology company’s stock valued at $14,778,000 after buying an additional 6,097 shares during the period. Finally, First Trust Advisors LP raised its holdings in Rapid7 by 9.8% during the 2nd quarter. First Trust Advisors LP now owns 465,095 shares of the technology company’s stock valued at $26,901,000 after buying an additional 41,680 shares during the period. Hedge funds and other institutional investors own 88.79% 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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Earnings History for Rapid7 (NASDAQ:RPD)

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