Brokerages expect that Rapid7, Inc. (NASDAQ:RPD) will report sales of $114.31 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Rapid7’s earnings, with the lowest sales estimate coming in at $113.90 million and the highest estimate coming in at $115.00 million. Rapid7 posted sales of $94.34 million during the same quarter last year, which would indicate a positive year over year growth rate of 21.2%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, May 6th.
On average, analysts expect that Rapid7 will report full-year sales of $493.42 million for the current fiscal year, with estimates ranging from $492.48 million to $495.00 million. For the next year, analysts forecast that the firm will post sales of $585.89 million, with estimates ranging from $578.62 million to $590.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Rapid7.
Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Monday, February 8th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $113.16 million during the quarter, compared to analyst estimates of $108.77 million. Rapid7 had a negative net margin of 21.61% and a negative return on equity of 69.25%.
A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Rapid7 from $77.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, January 6th. Truist raised their price target on shares of Rapid7 from $72.00 to $95.00 in a report on Wednesday, January 27th. Royal Bank of Canada raised their price target on shares of Rapid7 from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Monness Crespi & Hardt raised their price objective on shares of Rapid7 from $77.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, January 19th. Finally, Raymond James raised their price objective on shares of Rapid7 from $72.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Rapid7 currently has an average rating of “Buy” and a consensus price target of $94.64.
In other Rapid7 news, Director Thomas E. Schodorf sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $77.75, for a total transaction of $38,875.00. Following the sale, the director now owns 22,715 shares in the company, valued at approximately $1,766,091.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acorn Financial Advisory Services Inc. ADV raised its position in shares of Rapid7 by 4.0% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 15,553 shares of the technology company’s stock valued at $1,160,000 after buying an additional 601 shares during the last quarter. Red Spruce Capital LLC raised its position in shares of Rapid7 by 4.3% during the first quarter. Red Spruce Capital LLC now owns 22,632 shares of the technology company’s stock valued at $1,689,000 after buying an additional 930 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rapid7 during the fourth quarter valued at approximately $331,000. Norges Bank bought a new stake in shares of Rapid7 during the fourth quarter valued at approximately $54,503,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rapid7 in the fourth quarter worth $5,500,000. Institutional investors own 98.43% of the company’s stock.
Shares of NASDAQ RPD traded up $1.76 during trading on Wednesday, reaching $81.05. 7,795 shares of the company traded hands, compared to its average volume of 641,293. The firm has a 50 day simple moving average of $77.71 and a 200-day simple moving average of $76.79. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.37. The stock has a market capitalization of $4.27 billion, a PE ratio of -48.67 and a beta of 1.34. Rapid7 has a 52-week low of $40.12 and a 52-week high of $94.60.
Rapid7 Company Profile
Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightIDR, an incident detection and response solution; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.
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