Zacks: Brokerages Anticipate Rapid7, Inc. (NASDAQ:RPD) Will Post Earnings of -$0.16 Per Share

Brokerages expect Rapid7, Inc. (NASDAQ:RPD – Get Rating) to post earnings of ($0.16) per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Rapid7’s earnings. The lowest EPS estimate is ($0.18) and the highest is ($0.15). Rapid7 posted earnings per share of ($0.03) during the same quarter last year, which would suggest a negative year over year growth rate of 433.3%. The business is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Rapid7 will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.16. For the next fiscal year, analysts expect that the company will report earnings of $0.50 per share, with EPS estimates ranging from $0.36 to $0.63. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Rapid7.

Rapid7 (NASDAQ:RPD – Get Rating) last announced its quarterly earnings data on Wednesday, February 9th. The technology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.53. The firm had revenue of $151.64 million for the quarter, compared to the consensus estimate of $146.11 million. During the same period last year, the company posted ($0.40) earnings per share.

Several analysts recently issued reports on the company. KeyCorp raised their target price on Rapid7 from $126.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, February 10th. StockNews.com began coverage on Rapid7 in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Citigroup assumed coverage on shares of Rapid7 in a report on Monday, January 24th. They issued a “neutral” rating and a $105.00 price objective for the company. Barclays boosted their target price on shares of Rapid7 from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, February 10th. Finally, Morgan Stanley decreased their target price on shares of Rapid7 from $106.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $131.80.

In related news, CEO Corey E. Thomas sold 50,000 shares of the stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $100.00, for a total transaction of $5,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas E. Schodorf sold 260 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $112.54, for a total transaction of $29,260.40. The disclosure for this sale can be found here. Insiders sold a total of 56,008 shares of company stock worth $5,660,472 over the last three months. Insiders own 3.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Rapid7 during the 4th quarter worth $223,943,000. BlackRock Inc. increased its holdings in Rapid7 by 13.8% in the 4th quarter. BlackRock Inc. now owns 4,690,116 shares of the technology company’s stock valued at $551,978,000 after purchasing an additional 570,372 shares in the last quarter. Norges Bank acquired a new stake in shares of Rapid7 during the fourth quarter valued at about $58,551,000. Alliancebernstein L.P. grew its stake in shares of Rapid7 by 20.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,468,694 shares of the technology company’s stock valued at $172,851,000 after acquiring an additional 244,379 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Rapid7 during the third quarter valued at about $26,930,000.

NASDAQ RPD traded down $2.30 during trading hours on Friday, reaching $105.09. 328,113 shares of the stock traded hands, compared to its average volume of 516,737. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -39.81 and a beta of 1.34. The stock has a 50 day simple moving average of $102.26 and a two-hundred day simple moving average of $111.99. Rapid7 has a 1 year low of $72.96 and a 1 year high of $145.00.

Rapid7 Company Profile (Get Rating)

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 InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; 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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