Rapid7 (NASDAQ:RPD) Announces Earnings Results

Rapid7 (NASDAQ:RPD) posted its earnings results on Tuesday. The technology company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04, FiscalAI reports. Rapid7 had a net margin of 2.61% and a return on equity of 67.30%. The company had revenue of $217.39 million for the quarter, compared to analyst estimates of $215.17 million.

Rapid7 Stock Down 3.4%

Shares of Rapid7 stock traded down $0.37 during trading hours on Tuesday, reaching $10.39. 3,075,621 shares of the company were exchanged, compared to its average volume of 1,211,074. The stock’s fifty day moving average is $14.11 and its 200 day moving average is $17.03. The company has a debt-to-equity ratio of 7.01, a quick ratio of 1.19 and a current ratio of 1.19. Rapid7 has a 1 year low of $10.20 and a 1 year high of $38.47. The firm has a market cap of $680.34 million, a PE ratio of 30.56 and a beta of 0.79.

Analyst Ratings Changes

A number of research firms recently commented on RPD. Susquehanna set a $15.00 price objective on Rapid7 in a report on Thursday, November 6th. Royal Bank Of Canada reduced their target price on Rapid7 from $19.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Monday, January 5th. DA Davidson decreased their price target on Rapid7 from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 5th. Barclays downgraded Rapid7 from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $18.00 to $15.00 in a research report on Monday, January 5th. Finally, Berenberg Bank assumed coverage on shares of Rapid7 in a research report on Tuesday, November 18th. They issued a “hold” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.53.

Insiders Place Their Bets

In other news, Director Mike Burns purchased 2,000 shares of the stock in a transaction on Thursday, November 20th. The stock was bought at an average price of $13.80 per share, for a total transaction of $27,600.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $69,000. The trade was a 66.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc Evan Brown bought 3,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average price of $15.21 per share, with a total value of $45,630.00. Following the purchase, the director owned 51,882 shares of the company’s stock, valued at approximately $789,125.22. This represents a 6.14% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 67,345 shares of company stock worth $1,025,202. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Rapid7

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rapid7 by 114.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,136,438 shares of the technology company’s stock valued at $49,409,000 after buying an additional 1,142,148 shares in the last quarter. Marshall Wace LLP lifted its holdings in Rapid7 by 60.9% in the third quarter. Marshall Wace LLP now owns 1,139,273 shares of the technology company’s stock valued at $21,361,000 after acquiring an additional 431,195 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Rapid7 by 81.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 701,200 shares of the technology company’s stock worth $13,624,000 after purchasing an additional 313,717 shares in the last quarter. Algert Global LLC boosted its position in shares of Rapid7 by 132.2% during the 3rd quarter. Algert Global LLC now owns 264,812 shares of the technology company’s stock worth $4,965,000 after purchasing an additional 150,760 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Rapid7 by 37.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 535,121 shares of the technology company’s stock valued at $12,377,000 after purchasing an additional 144,627 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About Rapid7

Rapid7, Inc is a publicly traded cybersecurity company headquartered in Boston, Massachusetts. Since its founding in 2000, the company has specialized in delivering cloud-based security data and analytics solutions designed to help organizations detect, investigate, and remediate cyber threats. Rapid7 operates under the NASDAQ symbol “RPD” and serves a broad range of industries, including technology, financial services, healthcare, retail, and the public sector.

The core of Rapid7’s offering is its Insight platform, a unified, cloud-native security operations and analytics suite.