Rapid7 (NASDAQ:RPD) Issues FY 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.280-2.310 for the period, compared to the consensus estimate of 2.170. The company issued revenue guidance of $839.0 million-$841.0 million, compared to the consensus revenue estimate of $834.1 million. Rapid7 also updated its Q4 guidance to $0.48-0.51 EPS.

Analyst Ratings Changes

RPD has been the subject of a number of recent research reports. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and cut their price objective for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Royal Bank of Canada lowered shares of Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on shares of Rapid7 from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Piper Sandler lowered their price objective 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, Needham & Company LLC reiterated a “hold” rating on shares of Rapid7 in a research note on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.44.

Rapid7 Trading Up 3.7 %

Shares of RPD traded up $1.50 during midday trading on Wednesday, hitting $41.60. 1,277,422 shares of the company’s stock traded hands, compared to its average volume of 846,312. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -49.52 and a beta of 0.96. The firm’s fifty day moving average is $37.81 and its 200-day moving average is $38.75.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data 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 company had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative return on equity of 67.88% and a negative net margin of 5.64%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) earnings per share. On average, equities research analysts anticipate that Rapid7 will post 0.8 EPS for the current year.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction 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 completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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.