Rapid7 (NASDAQ:RPD) Issues Q4 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.480-0.510 for the period, compared to the consensus EPS estimate of 0.530. The company issued revenue guidance of $211.0 million-$213.0 million, compared to the consensus revenue estimate of $211.8 million. Rapid7 also updated its FY 2024 guidance to 2.280-2.310 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RPD shares. Baird R W downgraded Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. UBS Group decreased their price objective on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Piper Sandler cut their price target on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a research note on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rapid7 presently has a consensus rating of “Hold” and an average price target of $45.44.

Rapid7 Stock Performance

NASDAQ:RPD traded up $1.50 during mid-day trading on Wednesday, hitting $41.60. The company had a trading volume of 1,277,422 shares, compared to its average volume of 846,312. The firm has a market cap of $2.61 billion, a P/E ratio of -49.52 and a beta of 0.96. The business’s fifty day moving average is $37.81 and its two-hundred day moving average is $38.75. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to the consensus estimate of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Equities analysts forecast that Rapid7 will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the completion of the sale, the director now owns 17,460 shares in the company, valued at $698,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

About Rapid7

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.