Technology
What Analysts Have to Say About Rapid7 After Earnings
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After having completed its initial public offering (IPO) in July, Rapid7 Inc. (NASDAQ: RPD) had its quiet period come to a close, and just Tuesday it reported its second-quarter financial results. Analysts took this opportunity to weigh in on one of the newest cybersecurity companies.
The company is a provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cybersecurity. The security data and analytics platform was purpose-built for an increasingly complex and chaotic IT environment.
Recently cybersecurity companies have gained in popularity as sophisticated cyberattacks have become more prevalent. Target and Home Depot are two companies where the effect was devastating. Other major players in the cybersecurity industry include FireEye Inc. (NASDAQ: FEYE) and CyberArk Software Ltd. (NASDAQ: CYBR).
For the second quarter, Rapid7’s total revenue was $25.8 million, an increase of 44% year over year. At the same time, total deferred revenue was $97.5 million, an increase of 45%. The company also reported a net loss of $0.61 per share.
Consensus estimates for the second quarter were a net loss of $0.84 per share on $24 million in revenue.
Here is what analysts had to say after the earnings were released:
In the IPO shares priced at $16 apiece, and since that time they have risen 55% to current prices.
Shares of Rapid7 were up 1.9% at $24.84 on Wednesday afternoon. The stock has a post-IPO trading range of $19.19 to $27.45.
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