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 (EPS) guidance of 0.480-0.510 for the period, compared to the consensus 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.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded down $0.74 during midday trading on Friday, reaching $40.54. The company’s stock had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The business’s fifty day simple moving average is $38.02 and its 200-day simple moving average is $38.76. The company has a market capitalization of $2.54 billion, a P/E ratio of 64.35 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RPD. Piper Sandler dropped their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday. DA Davidson increased their price objective on shares of Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group dropped their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group upgraded 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 research note on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Rapid7 in a research report on Wednesday, October 16th. They set a “buy” rating and a $50.00 target price on the stock. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.59.

Insider Activity

In other Rapid7 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 transaction of $146,520.00. Following the transaction, the director now owns 17,460 shares in the company, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.