Rapid7 (NASDAQ:RPD) Issues FY 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.280-2.310 for the period, compared to the consensus estimate of 2.170. The company issued revenue guidance of $839.0 million-$841.0 million, compared to the consensus revenue estimate of $834.1 million. Rapid7 also updated its Q4 guidance to $0.48-0.51 EPS.

Rapid7 Stock Down 1.8 %

RPD traded down $0.74 on Friday, hitting $40.54. The company’s stock had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. The company’s 50 day simple moving average is $38.02 and its 200-day simple moving average is $38.76. The firm has a market cap of $2.54 billion, a P/E ratio of 64.35 and a beta of 0.96. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The company had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Rapid7’s revenue was up 9.2% on a year-over-year basis. Equities analysts predict that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RPD shares. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Truist Financial lowered their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Scotiabank cut their target price on shares of Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird lowered shares of Rapid7 from an “outperform” rating to a “neutral” rating and cut their target price for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.59.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was 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 directly owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

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.