Zacks: Analysts Expect Rapid7 Inc (RPD) Will Announce Earnings of -$0.13 Per Share

Wall Street brokerages expect that Rapid7 Inc (NASDAQ:RPD) will post earnings per share (EPS) of ($0.13) for the current quarter, according to Zacks. Seven analysts have provided estimates for Rapid7’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.12). Rapid7 posted earnings of ($0.15) per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that Rapid7 will report full-year earnings of ($0.48) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.46). For the next year, analysts expect that the company will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.18) to $0.03. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Rapid7.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Monday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.05. The company had revenue of $58.40 million for the quarter, compared to the consensus estimate of $55.14 million. Rapid7 had a negative net margin of 24.40% and a negative return on equity of 105.43%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS.

A number of brokerages recently weighed in on RPD. KeyCorp boosted their price target on shares of Rapid7 from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, August 7th. Monness Crespi & Hardt upped their price objective on shares of Rapid7 from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, October 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Rapid7 in a report on Tuesday, August 7th. Finally, BidaskClub raised shares of Rapid7 from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Rapid7 currently has a consensus rating of “Buy” and a consensus price target of $35.21.

Shares of NASDAQ:RPD traded down $1.37 during midday trading on Tuesday, reaching $32.53. The company had a trading volume of 843,422 shares, compared to its average volume of 533,180. The company has a market capitalization of $1.52 billion, a P/E ratio of -30.98 and a beta of 1.13. Rapid7 has a 52-week low of $17.43 and a 52-week high of $39.40.

In other news, insider Vii Lp Tcv sold 182,600 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $37.96, for a total value of $6,931,496.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 9,492 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $32.53, for a total transaction of $308,774.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,332 shares of company stock worth $9,492,170. Insiders own 25.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Rapid7 by 27.1% in the first 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. UBS Group AG increased its position in shares of Rapid7 by 176.4% in the first quarter. UBS Group AG now owns 34,783 shares of the technology company’s stock worth $889,000 after purchasing an additional 22,199 shares during the last quarter. Granahan Investment Management Inc. MA increased its position in shares of Rapid7 by 2.6% in the second quarter. Granahan Investment Management Inc. MA now owns 317,811 shares of the technology company’s stock worth $8,969,000 after purchasing an additional 8,141 shares during the last quarter. Sun Life Financial INC bought a new position in shares of Rapid7 in the second quarter worth approximately $486,000. Finally, MetLife Investment Advisors LLC increased 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 worth $471,000 after purchasing an additional 3,939 shares during the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: Balance Sheet

Get a free copy of the Zacks research report on Rapid7 (RPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply