$70.00 Million in Sales Expected for Rapid7 Inc (RPD) This Quarter

Wall Street brokerages predict that Rapid7 Inc (NASDAQ:RPD) will post sales of $70.00 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Rapid7’s earnings, with the lowest sales estimate coming in at $69.72 million and the highest estimate coming in at $70.50 million. Rapid7 reported sales of $54.52 million in the same quarter last year, which indicates a positive year over year growth rate of 28.4%. The firm is scheduled to announce its next earnings results on Tuesday, May 14th.

On average, analysts expect that Rapid7 will report full year sales of $309.29 million for the current year, with estimates ranging from $305.00 million to $312.00 million. For the next financial year, analysts anticipate that the business will post sales of $374.58 million, with estimates ranging from $358.10 million to $385.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Rapid7.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Thursday, February 7th. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Rapid7 had a negative return on equity of 59.16% and a negative net margin of 22.76%. The business had revenue of $70.64 million during the quarter, compared to analysts’ expectations of $66.66 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year.

Several research firms recently commented on RPD. DA Davidson increased their price target on Rapid7 to $40.00 and gave the company a “neutral” rating in a report on Friday, February 8th. They noted that the move was a valuation call. BTIG Research raised Rapid7 from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, January 15th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $49.00 price target (up previously from $41.00) on shares of Rapid7 in a report on Friday, February 8th. Morgan Stanley set a $42.00 price target on Rapid7 and gave the company a “hold” rating in a report on Friday, February 8th. Finally, Zacks Investment Research cut Rapid7 from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.43.

In related news, COO Andrew F. Burton sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $36.40, for a total value of $546,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Corey E. Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $45.82, for a total value of $1,145,500.00. The disclosure for this sale can be found here. Insiders sold 51,409 shares of company stock valued at $2,116,942 over the last quarter. 25.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Pearl River Capital LLC purchased a new position in shares of Rapid7 during the fourth quarter worth $47,000. Ibex Investors LLC purchased a new position in shares of Rapid7 during the third quarter worth $210,000. Caxton Associates LP purchased a new position in shares of Rapid7 during the fourth quarter worth $248,000. People s United Financial Inc. purchased a new position in shares of Rapid7 during the third quarter worth $259,000. Finally, Wade G W & Inc. boosted its position in shares of Rapid7 by 12.6% during the fourth quarter. Wade G W & Inc. now owns 8,937 shares of the technology company’s stock worth $278,000 after buying an additional 1,000 shares during the period. Institutional investors own 84.89% of the company’s stock.

Shares of NASDAQ:RPD traded down $1.12 during midday trading on Tuesday, hitting $45.94. The company had a trading volume of 1,306,760 shares, compared to its average volume of 649,941. Rapid7 has a twelve month low of $23.14 and a twelve month high of $47.62. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market cap of $2.17 billion, a PE ratio of -45.49 and a beta of 1.14.

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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