$52.23 Million in Sales Expected for Rapid7 Inc (RPD) This Quarter

Analysts expect Rapid7 Inc (NASDAQ:RPD) to announce $52.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Rapid7’s earnings. The highest sales estimate is $55.50 million and the lowest is $51.18 million. Rapid7 posted sales of $45.25 million during the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The company is scheduled to issue its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Rapid7 will report full-year sales of $52.23 million for the current year, with estimates ranging from $230.00 million to $242.00 million. For the next year, analysts expect that the business will post sales of $278.82 million per share, with estimates ranging from $268.19 million to $291.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Rapid7.

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Rapid7 (NASDAQ:RPD) last released its quarterly earnings results on Monday, February 12th. The technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). Rapid7 had a negative net margin of 22.63% and a negative return on equity of 141.69%. The company had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.39 million. During the same quarter last year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 28.2% on a year-over-year basis.

Several brokerages recently commented on RPD. BidaskClub upgraded Rapid7 from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Morgan Stanley upped their target price on Rapid7 from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Stifel Nicolaus began coverage on Rapid7 in a research report on Wednesday, February 28th. They set a “buy” rating and a $32.00 target price on the stock. ValuEngine upgraded Rapid7 from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada restated a “buy” rating and set a $30.00 target price on shares of Rapid7 in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.54.

Shares of Rapid7 stock opened at $26.08 on Friday. Rapid7 has a 52-week low of $13.42 and a 52-week high of $28.18. The company has a market capitalization of $1,234.10, a PE ratio of -24.60 and a beta of 0.87.

In related news, insider Lee David Weiner sold 18,541 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $27.02, for a total transaction of $500,977.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $21.01, for a total value of $42,020,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,384,381 shares of company stock worth $76,344,550. 56.90% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Crow Point Partners LLC purchased a new stake in shares of Rapid7 in the fourth quarter worth approximately $119,000. Fortaleza Asset Management Inc. purchased a new stake in shares of Rapid7 in the fourth quarter worth approximately $160,000. MetLife Investment Advisors LLC purchased a new stake in shares of Rapid7 in the fourth quarter worth approximately $190,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Rapid7 in the third quarter worth approximately $187,000. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Rapid7 in the fourth quarter worth approximately $207,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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Rapid7 Company Profile

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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