Wall Street brokerages predict that Rapid7 Inc (NASDAQ:RPD) will report $55.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Rapid7’s earnings, with the highest sales estimate coming in at $55.70 million and the lowest estimate coming in at $54.21 million. Rapid7 reported sales of $47.44 million during the same quarter last year, which indicates a positive year-over-year growth rate of 16.3%. The company is scheduled to report its next earnings results on Monday, August 6th.
On average, analysts expect that Rapid7 will report full-year sales of $233.67 million for the current fiscal year, with estimates ranging from $230.80 million to $236.10 million. For the next financial year, analysts expect that the company will report sales of $279.40 million per share, with estimates ranging from $271.99 million to $290.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Rapid7.
Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, May 8th. The technology company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Rapid7 had a negative return on equity of 122.32% and a negative net margin of 24.40%. The firm had revenue of $54.52 million during the quarter, compared to analyst estimates of $52.23 million. During the same period last year, the company posted ($0.14) EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis.
Several analysts have recently commented on the company. BTIG Research assumed coverage on Rapid7 in a research note on Friday, April 13th. They issued a “buy” rating and a $34.00 target price for the company. KeyCorp raised their target price on Rapid7 from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 9th. Rosenblatt Securities restated a “buy” rating and issued a $37.00 target price on shares of Rapid7 in a research note on Thursday, May 10th. BidaskClub downgraded Rapid7 from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. Finally, Monness Crespi & Hardt raised their target price on Rapid7 from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, May 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.07.
In other Rapid7 news, COO Andrew F. Burton sold 10,000 shares of Rapid7 stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $33.62, for a total transaction of $336,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lee David Weiner sold 21,875 shares of Rapid7 stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $33.62, for a total value of $735,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,889,893 shares of company stock valued at $57,041,110 in the last quarter. Company insiders own 25.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Rapid7 by 27.1% during the 1st quarter. BlackRock Inc. now owns 1,555,101 shares of the technology company’s stock worth $39,765,000 after buying an additional 331,186 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Rapid7 by 173.7% during the 1st quarter. Federated Investors Inc. PA now owns 1,103,000 shares of the technology company’s stock worth $28,204,000 after buying an additional 700,000 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Rapid7 by 14,618.1% during the 1st quarter. Legal & General Group Plc now owns 796,985 shares of the technology company’s stock worth $20,379,000 after buying an additional 791,570 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Rapid7 during the 1st quarter worth approximately $19,486,000. Finally, GW&K Investment Management LLC bought a new position in shares of Rapid7 during the 1st quarter worth approximately $19,103,000. Institutional investors and hedge funds own 77.10% of the company’s stock.
Shares of Rapid7 traded down $1.83, hitting $30.40, during mid-day trading on Tuesday, Marketbeat reports. The company’s stock had a trading volume of 2,076,206 shares, compared to its average volume of 421,259. Rapid7 has a 52 week low of $14.74 and a 52 week high of $33.92.
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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