Brokerages Anticipate Rapid7 Inc (NASDAQ:RPD) Will Post Quarterly Sales of $88.29 Million

Wall Street brokerages forecast that Rapid7 Inc (NASDAQ:RPD) will announce $88.29 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Rapid7’s earnings, with the lowest sales estimate coming in at $88.00 million and the highest estimate coming in at $88.70 million. Rapid7 posted sales of $68.77 million during the same quarter last year, which suggests a positive year over year growth rate of 28.4%. The firm is expected to report its next earnings results on Thursday, February 6th.

On average, analysts expect that Rapid7 will report full-year sales of $323.16 million for the current financial year, with estimates ranging from $319.70 million to $324.00 million. For the next financial year, analysts expect that the business will report sales of $399.62 million, with estimates ranging from $392.90 million to $405.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Rapid7.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, November 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.20. Rapid7 had a negative return on equity of 40.74% and a negative net margin of 17.27%. The company had revenue of $83.20 million for the quarter, compared to analyst estimates of $80.11 million. During the same period in the prior year, the company posted ($0.04) EPS. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Rapid7 in a research report on Tuesday, November 5th. Monness Crespi & Hardt restated a “buy” rating and issued a $72.00 target price (up previously from $62.00) on shares of Rapid7 in a research report on Monday, July 29th. Robert W. Baird restated a “buy” rating and issued a $72.00 target price on shares of Rapid7 in a research report on Tuesday, November 5th. ValuEngine downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Zacks Investment Research downgraded Rapid7 from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $63.33.

Shares of RPD stock traded up $0.60 during mid-day trading on Wednesday, reaching $53.42. The stock had a trading volume of 345,400 shares, compared to its average volume of 518,635. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -52.89 and a beta of 1.21. The business’s fifty day moving average is $48.83 and its 200-day moving average is $53.65. Rapid7 has a 1-year low of $26.27 and a 1-year high of $66.01. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.97.

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In related news, SVP Peter Kaes sold 12,881 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.03, for a total value of $644,436.43. Also, insider Lee David Weiner sold 20,556 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $54.93, for a total value of $1,129,141.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,375 shares of company stock valued at $4,452,498. Insiders own 4.90% of the company’s stock.

Several large investors have recently bought and sold shares of RPD. BlackRock Inc. increased its holdings in shares of Rapid7 by 26.2% in the second quarter. BlackRock Inc. now owns 3,421,810 shares of the technology company’s stock valued at $197,918,000 after purchasing an additional 710,437 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Rapid7 by 772.5% in the second quarter. Nuveen Asset Management LLC now owns 507,731 shares of the technology company’s stock valued at $29,367,000 after purchasing an additional 449,537 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Rapid7 by 10.8% in the second quarter. Vanguard Group Inc. now owns 4,101,944 shares of the technology company’s stock valued at $237,256,000 after purchasing an additional 400,958 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Rapid7 by 52.9% in the second quarter. Allianz Asset Management GmbH now owns 1,044,389 shares of the technology company’s stock valued at $60,407,000 after purchasing an additional 361,259 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Rapid7 by 39.8% in the second quarter. Invesco Ltd. now owns 1,089,199 shares of the technology company’s stock valued at $62,999,000 after purchasing an additional 310,330 shares during the last quarter. 90.93% of the stock is 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 enable 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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