Rapid7 (NASDAQ:RPD) Issues Q4 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.48-0.51 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $211-213 million, compared to the consensus revenue estimate of $212.10 million.

Rapid7 Price Performance

Shares of Rapid7 stock traded up $1.50 on Wednesday, hitting $41.60. The company had a trading volume of 1,271,031 shares, compared to its average volume of 846,282. The business has a 50-day simple moving average of $37.81 and a 200-day simple moving average of $38.75. The company has a market cap of $2.61 billion, a PE ratio of -50.23 and a beta of 0.96. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its 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 during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.33) earnings per share. On average, equities research analysts predict that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on RPD. Morgan Stanley restated an “equal weight” rating and set a $46.00 target price on shares of Rapid7 in a report on Wednesday, July 10th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. Piper Sandler reduced their price target on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Rapid7 currently has a consensus rating of “Hold” and a consensus target price of $45.44.

Insider Activity

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s 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 transaction, the director now directly owns 17,460 shares in the company, valued at approximately $698,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

Rapid7 Company Profile

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.