Rapid7, Inc. (NASDAQ:RPD) announced its earnings results on Monday. The technology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Rapid7 had a negative net margin of 26.19% and a negative return on equity of 93.19%. The business had revenue of $47.44 million during the quarter, compared to the consensus estimate of $46.31 million. During the same quarter last year, the firm earned ($0.22) earnings per share. Rapid7’s quarterly revenue was up 27.3% on a year-over-year basis. Rapid7 updated its Q3 guidance to ($0.18-0.16) EPS and its FY17 guidance to ($0.64-0.61) EPS.
Rapid7 (NASDAQ:RPD) opened at 15.06 on Tuesday. Rapid7 has a 52 week low of $10.63 and a 52 week high of $19.29. The company’s 50-day moving average is $16.87 and its 200-day moving average is $15.97. The company’s market cap is $637.57 million.
A number of equities analysts recently weighed in on RPD shares. Zacks Investment Research downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company reissued a “hold” rating and set a $11.50 target price on shares of Rapid7 in a research note on Friday, April 14th. Royal Bank Of Canada lifted their target price on shares of Rapid7 from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Susquehanna Bancshares Inc started coverage on shares of Rapid7 in a research note on Wednesday, June 7th. They set a “neutral” rating and a $20.00 target price for the company. Finally, Monness Crespi & Hardt started coverage on shares of Rapid7 in a research note on Tuesday, May 30th. They set a “buy” rating and a $23.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.93.
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In other Rapid7 news, COO Andrew F. Burton sold 37,843 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $16.95, for a total value of $641,438.85. Following the completion of the transaction, the chief operating officer now directly owns 238,158 shares in the company, valued at approximately $4,036,778.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay C. Hoag sold 1,400,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $18.00, for a total transaction of $25,200,000.00. The disclosure for this sale can be found here. Corporate insiders own 56.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of RPD. US Bancorp DE raised its position in shares of Rapid7 by 594.0% in the first quarter. US Bancorp DE now owns 10,965 shares of the technology company’s stock valued at $165,000 after buying an additional 9,385 shares during the period. TFS Capital LLC bought a new position in shares of Rapid7 during the first quarter valued at approximately $169,000. American International Group Inc. raised its position in shares of Rapid7 by 7.1% in the first quarter. American International Group Inc. now owns 12,257 shares of the technology company’s stock valued at $184,000 after buying an additional 815 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Rapid7 during the first quarter valued at approximately $218,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Rapid7 by 23.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,620 shares of the technology company’s stock valued at $234,000 after buying an additional 2,980 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.
Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.
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