Rapid7 (NASDAQ:RPD) Updates Q4 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.480-0.510 for the period, compared to the consensus EPS 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

A number of research analysts recently issued reports on RPD shares. UBS Group cut their price objective on Rapid7 from $65.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, Truist Financial decreased their price objective on Rapid7 from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 has a consensus rating of “Hold” and an average price target of $45.44.

Rapid7 Price Performance

NASDAQ:RPD traded up $1.50 on Wednesday, reaching $41.60. 1,277,422 shares of the company’s stock were exchanged, compared to its average volume of 846,312. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -49.52 and a beta of 0.96. The stock has a fifty day simple moving average of $37.81 and a 200-day simple moving average of $38.75.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The business had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 67.88%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned ($0.33) earnings per share. As a group, sell-side 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 firm’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 value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate 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.