Rapid7 (NASDAQ:RPD) Releases Earnings Results, Meets Estimates

Rapid7 (NASDAQ:RPDGet 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.

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in shares of Rapid7 by 89.3% during the 3rd quarter. Captrust Financial Advisors now owns 318 shares of the technology company’s stock worth $36,000 after acquiring an additional 150 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Rapid7 by 214.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,416 shares of the technology company’s stock worth $167,000 after acquiring an additional 966 shares during the period. MML Investors Services LLC boosted its stake in shares of Rapid7 by 3.7% during the 4th quarter. MML Investors Services LLC now owns 3,696 shares of the technology company’s stock worth $435,000 after acquiring an additional 132 shares during the period. Virtu Financial LLC boosted its stake in shares of Rapid7 by 144.3% during the 4th quarter. Virtu Financial LLC now owns 6,830 shares of the technology company’s stock worth $804,000 after acquiring an additional 4,034 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Rapid7 by 187.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 8,041 shares of the technology company’s stock worth $946,000 after purchasing an additional 5,241 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.

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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Earnings History for Rapid7 (NASDAQ:RPD)

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