Rapid7, Inc. (RPD) Updates FY17 Earnings Guidance
Rapid7, Inc. (NASDAQ:RPD) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of ($0.64-0.61) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.63). The company issued revenue guidance of $195-198 million, compared to the consensus revenue estimate of $196.00 million.Rapid7 also updated its Q3 guidance to ($0.18-0.16) EPS.
Shares of Rapid7, Inc. (NASDAQ RPD) remained flat at $15.06 during midday trading on Monday. The stock had a trading volume of 180,544 shares. Rapid7, Inc. has a 1-year low of $10.63 and a 1-year high of $19.29. The company’s market capitalization is $637.57 million. The company has a 50-day moving average of $16.87 and a 200-day moving average of $15.97.
Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 9th. The technology company reported ($0.24) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.17. The firm had revenue of $45.20 million for the quarter, compared to the consensus estimate of $44.01 million. Rapid7 had a negative net margin of 26.19% and a negative return on equity of 93.19%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) earnings per share. Analysts expect that Rapid7, Inc. will post ($0.63) EPS for the current fiscal year.
RPD has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on Rapid7 from $19.00 to $22.00 and gave the company an outperform rating in a research report on Wednesday, May 10th. Monness Crespi & Hardt initiated coverage on Rapid7 in a research report on Tuesday, May 30th. They issued a buy rating and a $23.00 price target on the stock. ValuEngine downgraded Rapid7 from a hold rating to a sell rating in a research report on Tuesday, August 1st. BidaskClub downgraded Rapid7 from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded Rapid7 from a buy rating to a hold rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $19.93.
In related news, COO Andrew F. Burton sold 37,843 shares of Rapid7 stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $16.95, for a total transaction of $641,438.85. Following the sale, the chief operating officer now directly owns 238,158 shares of the company’s stock, valued at $4,036,778.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jay C. Hoag sold 1,400,000 shares of Rapid7 stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $18.00, for a total value of $25,200,000.00. The disclosure for this sale can be found here. Company insiders own 56.90% of the company’s stock.
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.
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