Rapid7 (NASDAQ:RPD) Updates Q4 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.480-0.510 for the period, compared to the consensus earnings per share 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 analysts recently commented on the company. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada lowered Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research report on Wednesday, August 7th. UBS Group lowered their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Scotiabank lowered their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Rapid7 Price Performance

Shares of Rapid7 stock traded down $0.74 on Friday, hitting $40.54. 1,005,365 shares of the company’s stock traded hands, compared to its average volume of 848,452. Rapid7 has a one year low of $32.94 and a one year high of $61.88. The company has a fifty day moving average of $38.02 and a two-hundred day moving average of $38.76. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The firm had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts anticipate that Rapid7 will post 0.8 earnings per share for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’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 completion of the sale, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.