Rapid7 (NASDAQ:RPD) Announces Earnings Results, Misses Expectations By $0.38 EPS

Rapid7 (NASDAQ:RPD) issued its earnings results on Wednesday. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.38), Zacks reports. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%.

Rapid7 Stock Down 3.0 %

NASDAQ RPD traded down $1.14 during trading on Wednesday, reaching $36.79. 1,710,738 shares of the stock traded hands, compared to its average volume of 576,627. The stock’s 50-day moving average price is $39.71 and its 200 day moving average price is $38.88. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 58.40 and a beta of 0.96. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.79.

Insider Activity at Rapid7

In other news, CEO Corey E. Thomas sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $39.38, for a total value of $3,938,000.00. Following the completion of the transaction, the chief executive officer now owns 431,469 shares in the company, valued at $16,991,249.22. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RPD has been the subject of a number of recent research reports. Truist Financial decreased their price objective on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $42.00 target price (down previously from $48.00) on shares of Rapid7 in a report on Friday, January 17th. Citigroup cut their price target on Rapid7 from $50.00 to $46.00 and set a “buy” rating for the company in a report on Friday, January 17th. UBS Group lowered their price objective on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, DA Davidson upped their target price on shares of Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.65.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.