Rapid7 (NASDAQ:RPD) Releases Q3 2019 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.04–0.02 for the period, compared to the Thomson Reuters consensus estimate of $0.02. The company issued revenue guidance of $79.2-80.8 million, compared to the consensus revenue estimate of $79.68 million.Rapid7 also updated its FY 2019 guidance to $0.05-0.05 EPS.

RPD stock opened at $57.91 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $2.79 billion, a P/E ratio of -57.34 and a beta of 1.18. Rapid7 has a 12 month low of $26.27 and a 12 month high of $66.01. The business has a 50 day simple moving average of $59.70.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Thursday, August 1st. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.26. The company had revenue of $78.96 million during the quarter, compared to the consensus estimate of $75.14 million. Rapid7 had a negative net margin of 19.35% and a negative return on equity of 46.34%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts expect that Rapid7 will post -0.61 earnings per share for the current fiscal year.

Several research firms recently issued reports on RPD. Nomura began coverage on shares of Rapid7 in a report on Friday, June 28th. They set a buy rating and a $70.00 price objective for the company. KeyCorp upped their price objective on shares of Rapid7 from $50.00 to $60.00 and gave the stock an overweight rating in a report on Monday, April 15th. Monness Crespi & Hardt reaffirmed a buy rating and set a $72.00 price objective (up from $62.00) on shares of Rapid7 in a report on Monday, July 29th. DA Davidson upped their price objective on shares of Rapid7 to $52.00 and gave the stock a neutral rating in a report on Monday, May 6th. Finally, Morgan Stanley upped their price objective on shares of Rapid7 from $51.00 to $61.00 and gave the stock an equal weight rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Rapid7 presently has an average rating of Buy and a consensus target price of $62.24.

In other news, COO Andrew F. Burton sold 22,500 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $51.71, for a total value of $1,163,475.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter Kaes sold 17,500 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $52.45, for a total transaction of $917,875.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,537 shares of company stock valued at $6,675,522. Insiders own 4.90% 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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