Rapid7 (NASDAQ:RPD) Releases 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 also updated its FY 2024 guidance to 2.280-2.310 EPS.

Analysts Set New Price Targets

RPD has been the subject of a number of recent analyst reports. Baird R W lowered shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group cut their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial cut their target price on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their target price for the company from $52.00 to $43.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.59.

Rapid7 Trading Down 1.8 %

NASDAQ RPD traded down $0.74 on Friday, hitting $40.54. 1,005,345 shares of the company traded hands, compared to its average volume of 848,452. The company has a market capitalization 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 released its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The company 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 99.08% and a net margin of 5.65%. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) earnings per share. As a group, sell-side analysts predict that Rapid7 will post 0.8 earnings per share for the current year.

Insider Activity at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company 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.