Rapid7 (RPD) Releases Earnings Results

Rapid7 (NASDAQ:RPD) posted its earnings results on Tuesday. The technology company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.05, Morningstar.com reports. The business had revenue of $62.40 million during the quarter, compared to analyst estimates of $59.50 million. Rapid7 had a negative return on equity of 89.66% and a negative net margin of 23.83%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. Rapid7 updated its Q4 guidance to ($0.10)-($0.08) EPS.

NASDAQ RPD traded up $0.08 on Thursday, hitting $37.22. 1,253 shares of the company traded hands, compared to its average volume of 467,165. The company has a market capitalization of $1.57 billion, a PE ratio of -35.37 and a beta of 1.02. Rapid7 has a 52-week low of $17.64 and a 52-week high of $39.40.

Several analysts recently commented on RPD shares. BidaskClub raised Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Rapid7 in a report on Tuesday, August 7th. Stifel Nicolaus lifted their price objective on Rapid7 from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. KeyCorp lifted their price objective on Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Finally, Monness Crespi & Hardt lifted their price objective on Rapid7 from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Rapid7 has an average rating of “Buy” and an average target price of $35.79.

In related news, insider Vii Lp Tcv sold 182,600 shares of Rapid7 stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $37.96, for a total transaction of $6,931,496.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew F. Burton sold 7,440 shares of Rapid7 stock in a transaction on Friday, August 24th. The shares were sold at an average price of $36.24, for a total value of $269,625.60. The disclosure for this sale can be found here. Insiders have sold 235,732 shares of company stock worth $8,852,242 over the last quarter. 25.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Rapid7 by 27.1% during the first quarter. BlackRock Inc. now owns 1,555,101 shares of the technology company’s stock valued at $39,765,000 after purchasing an additional 331,186 shares in the last quarter. UBS Group AG lifted its position in Rapid7 by 176.4% during the first quarter. UBS Group AG now owns 34,783 shares of the technology company’s stock valued at $889,000 after purchasing an additional 22,199 shares in the last quarter. Granahan Investment Management Inc. MA lifted its position in Rapid7 by 2.6% during the second quarter. Granahan Investment Management Inc. MA now owns 317,811 shares of the technology company’s stock valued at $8,969,000 after purchasing an additional 8,141 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Rapid7 by 30.9% in the second quarter. MetLife Investment Advisors LLC now owns 16,703 shares of the technology company’s stock valued at $471,000 after acquiring an additional 3,939 shares in the last quarter. Finally, Sun Life Financial INC purchased a new position in shares of Rapid7 in the second quarter valued at about $486,000. Institutional investors own 78.69% of the company’s stock.

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About Rapid7

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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Earnings History for Rapid7 (NASDAQ:RPD)

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