Zacks: Analysts Expect Rapid7 Inc (NASDAQ:RPD) Will Announce Quarterly Sales of $88.29 Million

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Analysts forecast that Rapid7 Inc (NASDAQ:RPD) will announce $88.29 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided 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 in the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The firm is expected to issue 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 anticipate that the business will post sales of $399.62 million, with estimates ranging from $392.90 million to $405.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Rapid7.

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

Several research firms have recently weighed in on RPD. Zacks Investment Research downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. SunTrust Banks began coverage on shares of Rapid7 in a research note on Wednesday, October 2nd. They set a “buy” rating and a $66.00 price target for the company. Raymond James decreased their price target on shares of Rapid7 from $76.00 to $69.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 6th. ValuEngine downgraded shares of Rapid7 from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada lifted their price target on shares of Rapid7 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.33.

RPD traded up $0.60 on Wednesday, hitting $53.42. The company had a trading volume of 345,400 shares, compared to its average volume of 518,635. The business’s fifty day simple moving average is $48.83 and its 200 day simple moving average is $53.65. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.97. Rapid7 has a 12-month low of $26.27 and a 12-month high of $66.01. The company has a market cap of $2.58 billion, a PE ratio of -52.89 and a beta of 1.21.

In related news, insider Lee David Weiner sold 20,556 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 49,438 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $51.61, for a total value of $2,551,495.18. Insiders sold 85,375 shares of company stock valued at $4,452,498 in the last three months. 4.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Signaturefd LLC acquired a new position in shares of Rapid7 during the second quarter worth $46,000. FNY Investment Advisers LLC acquired a new position in shares of Rapid7 during the second quarter worth $57,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Rapid7 by 26.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,038 shares of the technology company’s stock worth $61,000 after purchasing an additional 217 shares in the last quarter. Point72 Hong Kong Ltd increased its position in shares of Rapid7 by 412.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,148 shares of the technology company’s stock worth $124,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rapid7 by 30.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,364 shares of the technology company’s stock worth $137,000 after purchasing an additional 554 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Rapid7 Company Profile

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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