Rapid7 (NASDAQ:RPD) Issues Q4 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its fourth quarter earnings guidance on Wednesday. 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 also updated its FY 2024 guidance to 2.280-2.310 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price target on the stock. Truist Financial reduced their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday. Robert W. Baird cut shares of Rapid7 from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Rapid7 Price Performance

Rapid7 stock traded down $0.74 during trading hours on Friday, reaching $40.54. The stock had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. The business’s 50 day moving average price is $37.97 and its 200-day moving average price is $38.79. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88.

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

Insider Activity

In related news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the sale, the director now owns 17,460 shares in the company, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.