Rapid7 (NASDAQ:RPD) Updates Q4 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.48-0.51 for the period, compared to the consensus earnings per share estimate of $0.53. The company issued revenue guidance of $211-213 million, compared to the consensus revenue estimate of $212.10 million.

Wall Street Analyst Weigh In

Several research firms have issued reports on RPD. UBS Group decreased their price target on shares of Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Truist Financial reduced their price objective on shares of Rapid7 from $45.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $46.00 price objective on shares of Rapid7 in a report on Wednesday, July 10th. Piper Sandler cut their price target on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price target for the company. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid7 currently has an average rating of “Hold” and an average target price of $45.44.

Rapid7 Trading Up 3.7 %

Shares of NASDAQ:RPD traded up $1.50 during trading on Wednesday, hitting $41.60. 1,271,031 shares of the company’s stock were exchanged, compared to its average volume of 846,282. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The firm has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $38.75. The firm has a market cap of $2.61 billion, a P/E ratio of -50.23 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 the consensus estimate of $0.52 by $0.06. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The company had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter in the previous year, the company earned ($0.33) EPS. Rapid7’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that Rapid7 will post 0.8 EPS for the current year.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 owns 17,460 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Corporate 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.