Rapid7 (RPD) Issues Earnings Results, Beats Expectations By $0.04 EPS

Rapid7 (NASDAQ:RPD) released its quarterly earnings results on Thursday. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.04, Bloomberg Earnings reports. Rapid7 had a negative net margin of 22.76% and a negative return on equity of 59.16%. The company had revenue of $70.64 million for the quarter, compared to analysts’ expectations of $66.66 million. During the same period last year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year.

Shares of RPD stock opened at $44.49 on Friday. Rapid7 has a 1-year low of $21.33 and a 1-year high of $45.17. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.85.

In related news, insider Lee David Weiner sold 5,580 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $31.78, for a total value of $177,332.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey Kalowski sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $31.84, for a total transaction of $477,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,236,482 shares of company stock worth $73,871,440. Insiders own 25.60% of the company’s stock.



A number of hedge funds and other institutional investors have recently bought and sold shares of RPD. BlackRock Inc. raised its holdings in Rapid7 by 64.5% in the second quarter. BlackRock Inc. now owns 2,557,393 shares of the technology company’s stock valued at $72,171,000 after buying an additional 1,002,292 shares during the period. Raymond James & Associates grew its position in Rapid7 by 16.0% in the second quarter. Raymond James & Associates now owns 60,921 shares of the technology company’s stock valued at $1,719,000 after acquiring an additional 8,386 shares in the last quarter. Northern Trust Corp grew its position in Rapid7 by 37.9% in the second quarter. Northern Trust Corp now owns 454,075 shares of the technology company’s stock valued at $12,814,000 after acquiring an additional 124,722 shares in the last quarter. Daiwa SB Investments Ltd. grew its position in Rapid7 by 37.7% in the third quarter. Daiwa SB Investments Ltd. now owns 139,627 shares of the technology company’s stock valued at $5,155,000 after acquiring an additional 38,221 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Rapid7 by 2,523.8% in the third quarter. Bank of Montreal Can now owns 190,465 shares of the technology company’s stock valued at $7,032,000 after acquiring an additional 183,206 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Several research firms have issued reports on RPD. Morgan Stanley set a $42.00 price target on shares of Rapid7 and gave the stock a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of Rapid7 from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $49.00 price target (up from $41.00) on shares of Rapid7 in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (up from $42.00) on shares of Rapid7 in a research note on Friday. Finally, DA Davidson set a $40.00 price target on shares of Rapid7 and gave the stock a “hold” rating in a research note on Friday. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. Rapid7 currently has a consensus rating of “Buy” and an average price target of $41.43.

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About Rapid7

Rapid7, Inc provides analytics solutions for security and information (IT) operations. Its vulnerability management solutions include InsightVM and Nexpose, which enables customers to assess and remediate their overall exposure to cyber risk; InsightAppSec, an insight platform based solution; AppSpider, an application security testing solution; and Metasploit, a penetration testing software solution.

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Earnings History for Rapid7 (NASDAQ:RPD)

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