Rapid7 (NASDAQ:RPD) Releases Q3 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.500-0.530 for the period, compared to the consensus estimate of 0.530. The company issued revenue guidance of $209.0 million-$211.0 million, compared to the consensus revenue estimate of $209.2 million. Rapid7 also updated its FY 2024 guidance to 2.150-2.200 EPS.

Rapid7 Price Performance

RPD traded down $0.42 during mid-day trading on Tuesday, hitting $33.02. The stock had a trading volume of 1,686,843 shares, compared to its average volume of 920,710. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.11 and a beta of 0.98. The stock’s fifty day simple moving average is $38.68 and its 200-day simple moving average is $45.93.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $204.10 million. As a group, research analysts expect that Rapid7 will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RPD has been the subject of a number of research reports. Citigroup lowered their target price on Rapid7 from $65.00 to $52.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Stifel Nicolaus cut their price objective on shares of Rapid7 from $63.00 to $51.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Morgan Stanley reiterated an equal weight rating and set a $46.00 target price on shares of Rapid7 in a report on Wednesday, July 10th. Truist Financial cut their price target on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a report on Wednesday, May 8th. Finally, Scotiabank assumed coverage on Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price objective for the company. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $49.00.

About Rapid7

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.