Rapid7 (NASDAQ:RPD) Releases 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.

Analysts Set New Price Targets

Several research firms have recently commented on RPD. JPMorgan Chase & Co. lifted their price objective on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $50.00 to $40.00 in a report on Friday, September 20th. UBS Group cut their price objective on Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial cut their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research report on Friday. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.59.

Rapid7 Stock Performance

Shares of RPD traded down $0.74 during mid-day trading on Friday, reaching $40.54. The company had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. The firm has a 50-day moving average price of $38.02 and a 200 day moving average price of $38.76. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. 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 issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. As a group, research analysts forecast that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related 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 value of $146,520.00. Following the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

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.