Rapid7 Inc (RPD) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Rapid7 Inc (NASDAQ:RPD) announced its quarterly earnings results on Tuesday. The technology company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 87.64% and a negative net margin of 31.12%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. Rapid7 updated its Q2 guidance to ($0.20)-($0.18) EPS and its FY17 guidance to ($0.66)-($0.61) EPS.

Earnings History for Rapid7 (NASDAQ:RPD)

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A number of hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC boosted its stake in shares of Rapid7 by 14.8% in the third quarter. Penserra Capital Management LLC now owns 708,066 shares of the technology company’s stock worth $12,497,000 after buying an additional 91,502 shares in the last quarter. Westpac Banking Corp bought a new position in shares of Rapid7 during the third quarter valued at about $327,000. Citadel Advisors LLC boosted its position in shares of Rapid7 by 55.6% in the third quarter. Citadel Advisors LLC now owns 20,789 shares of the technology company’s stock valued at $367,000 after buying an additional 7,426 shares during the period. Polar Capital LLP boosted its position in shares of Rapid7 by 27.4% in the third quarter. Polar Capital LLP now owns 324,604 shares of the technology company’s stock valued at $5,723,000 after buying an additional 69,760 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rapid7 during the third quarter valued at about $658,000. 67.22% of the stock is owned by institutional investors.

A number of analysts recently commented on the company. Royal Bank of Canada upped their price objective on Rapid7 from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Cowen and Company reiterated a “hold” rating and set a $11.50 price objective on shares of Rapid7 in a research report on Friday, April 14th. Finally, Barclays PLC reiterated an “overweight” rating and set a $17.00 price objective (up previously from $16.00) on shares of Rapid7 in a research report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.90.

About Rapid7

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.

12 Month Chart for NASDAQ:RPD

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