Rapid7 (NASDAQ:RPD) Issues Earnings Results
by Amy Steele · The Cerbat GemRapid7 (NASDAQ:RPD – Get Free Report) released its earnings results on Tuesday. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06, FiscalAI reports. The firm had revenue of $209.69 million during the quarter, compared to the consensus estimate of $207.95 million. Rapid7 had a return on equity of 47.33% and a net margin of 2.72%.
Rapid7 Price Performance
Shares of NASDAQ:RPD traded up $0.19 on Tuesday, reaching $6.68. 2,816,188 shares of the company traded hands, compared to its average volume of 1,939,891. Rapid7 has a fifty-two week low of $4.97 and a fifty-two week high of $27.10. The company’s 50 day moving average is $6.02 and its 200-day moving average is $11.40. The stock has a market capitalization of $446.04 million, a PE ratio of 18.56 and a beta of 0.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.28 and a quick ratio of 1.28.
Institutional Investors Weigh In On Rapid7
A number of institutional investors and hedge funds have recently modified their holdings of RPD. Headlands Technologies LLC acquired a new stake in Rapid7 during the 2nd quarter valued at $44,000. Parallel Advisors LLC raised its stake in Rapid7 by 81.6% during the 4th quarter. Parallel Advisors LLC now owns 3,036 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,364 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Rapid7 during the 4th quarter valued at $71,000. Advisors Asset Management Inc. acquired a new stake in Rapid7 during the 4th quarter valued at $79,000. Finally, Marex Group plc acquired a new stake in Rapid7 during the 4th quarter valued at $162,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Susquehanna set a $8.00 target price on Rapid7 in a research report on Thursday, February 12th. UBS Group reiterated a “neutral” rating and set a $9.00 price objective on shares of Rapid7 in a research report on Wednesday, February 11th. Piper Sandler cut their price objective on Rapid7 from $16.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Scotiabank cut their price objective on Rapid7 from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Rapid7 in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 presently has a consensus rating of “Reduce” and an average target price of $12.21.
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.