Zacks: Brokerages Expect Rapid7 Inc (RPD) Will Post Quarterly Sales of $52.32 Million

Wall Street analysts forecast that Rapid7 Inc (NASDAQ:RPD) will report $52.32 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Rapid7’s earnings. The highest sales estimate is $55.50 million and the lowest is $51.18 million. Rapid7 posted sales of $45.25 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.6%. The firm is expected to issue its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Rapid7 will report full year sales of $52.32 million for the current year, with estimates ranging from $230.06 million to $242.00 million. For the next financial year, analysts forecast that the business will report sales of $280.46 million per share, with estimates ranging from $268.19 million to $291.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Rapid7.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Monday, February 12th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). The business had revenue of $57.73 million during the quarter, compared to analyst estimates of $57.39 million. Rapid7 had a negative net margin of 22.63% and a negative return on equity of 130.89%. Rapid7’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share.

A number of research firms have issued reports on RPD. Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Rapid7 in a research note on Friday, January 26th. KeyCorp reiterated an “overweight” rating and issued a $30.00 target price (up from $25.00) on shares of Rapid7 in a research note on Tuesday, January 30th. BidaskClub upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. ValuEngine upgraded shares of Rapid7 from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price (up from $23.00) on shares of Rapid7 in a research note on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $24.95.

Shares of Rapid7 (NASDAQ RPD) opened at $24.19 on Tuesday. Rapid7 has a one year low of $13.42 and a one year high of $25.95.

In related news, major shareholder Bain Capital Venture Investors sold 2,000,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $21.01, for a total transaction of $42,020,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lee David Weiner sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $18.41, for a total transaction of $368,200.00. The disclosure for this sale can be found here. Insiders sold 2,345,246 shares of company stock valued at $49,165,672 over the last 90 days. 56.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in RPD. Schwab Charles Investment Management Inc. raised its stake in Rapid7 by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,670 shares of the technology company’s stock valued at $1,139,000 after purchasing an additional 399 shares during the last quarter. Alliancebernstein L.P. raised its stake in Rapid7 by 39.9% during the 2nd quarter. Alliancebernstein L.P. now owns 30,500 shares of the technology company’s stock valued at $513,000 after purchasing an additional 8,700 shares during the last quarter. Teachers Advisors LLC raised its stake in Rapid7 by 11.8% during the 2nd quarter. Teachers Advisors LLC now owns 37,678 shares of the technology company’s stock valued at $634,000 after purchasing an additional 3,991 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Rapid7 by 30.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 67,105 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 15,552 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Rapid7 during the 2nd quarter valued at $957,000. Hedge funds and other institutional investors own 71.61% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://stocknewstimes.com/2018/02/20/zacks-brokerages-expect-rapid7-inc-rpd-will-post-quarterly-sales-of-52-32-million.html.

Rapid7 Company Profile

Rapid7, Inc is a provider analytics for security and information technology (IT) operations that enable organizations to implement an analytics-driven approach to cyber security and IT operations. The Company’s analytics enable organizations to contextualize and prioritize the threats facing their physical, virtual and cloud assets, including those posed by the behaviors of their users.

Get a free copy of the Zacks research report on Rapid7 (RPD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Rapid7 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapid7 and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply