Rapid7 (NASDAQ:RPD) Releases 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 guidance of 2.280-2.310 for the period, compared to the consensus earnings per share 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.

Rapid7 Trading Down 1.8 %

Rapid7 stock traded down $0.74 during trading on Friday, reaching $40.54. The company had a trading volume of 1,005,365 shares, compared to its average volume of 848,452. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The firm’s 50-day simple moving average is $38.02 and its 200 day simple moving average is $38.76. The firm 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 announced its 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. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. During the same period last year, the firm earned ($0.33) EPS. Rapid7’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts predict that Rapid7 will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RPD shares. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a report on Friday. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and reduced their target price for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, UBS Group dropped their price target on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Rapid7 presently has a consensus rating of “Hold” and a consensus target price of $44.59.

Insider Buying and Selling

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 value of $146,520.00. Following the completion of the transaction, the director now owns 17,460 shares of the company’s stock, valued at $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.