Rapid7 (NASDAQ:RPD – Get Rating) issued its earnings results on Wednesday. The technology company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16), MarketWatch Earnings reports. The firm had revenue of $157.00 million during the quarter, compared to analyst estimates of $154.15 million. During the same quarter in the previous year, the company posted ($0.42) earnings per share. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. Rapid7 updated its Q2 guidance to $(0.07)-$(0.03) EPS and its FY22 guidance to $0.05-$0.16 EPS.
Rapid7 stock traded down $5.13 during midday trading on Friday, reaching $73.10. The stock had a trading volume of 1,079,505 shares, compared to its average volume of 434,703. The firm’s fifty day simple moving average is $104.85 and its 200-day simple moving average is $110.04. Rapid7 has a 1-year low of $71.17 and a 1-year high of $145.00. The stock has a market capitalization of $4.26 billion, a P/E ratio of -25.56 and a beta of 1.38.
In other Rapid7 news, CEO Corey E. Thomas sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $100.00, for a total value of $5,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Schodorf sold 260 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $112.54, for a total value of $29,260.40. Following the completion of the transaction, the director now owns 5,290 shares of the company’s stock, valued at $595,336.60. The disclosure for this sale can be found here. In the last three months, insiders sold 55,968 shares of company stock worth $5,656,672. 3.60% of the stock is owned by insiders.
A number of analysts have weighed in on the company. Mizuho lowered their price target on Rapid7 from $135.00 to $110.00 in a research report on Thursday. StockNews.com assumed coverage on Rapid7 in a report on Thursday, March 31st. They set a “sell” rating on the stock. Wolfe Research assumed coverage on Rapid7 in a report on Monday, April 11th. They issued an “outperform” rating and a $122.00 price target on the stock. Citigroup assumed coverage on Rapid7 in a report on Monday, January 24th. They issued a “neutral” rating and a $105.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Rapid7 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $127.44.
About Rapid7 (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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