Rapid7 (NASDAQ:RPD) Issues 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Rapid7 in a report on Wednesday, October 16th. They issued a “buy” rating and a $50.00 target price on the stock. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on Rapid7 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Truist Financial dropped their price objective on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.59.

Rapid7 Stock Performance

Shares of RPD traded down $0.74 during mid-day trading on Friday, hitting $40.54. The company’s stock had a trading volume of 1,005,365 shares, compared to its average volume of 848,452. The firm has a market capitalization of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. Rapid7 has a one year low of $32.94 and a one year high of $61.88. The stock’s 50-day moving average is $38.02 and its two-hundred day moving average is $38.76.

Rapid7 (NASDAQ:RPD) last issued its 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. The firm had revenue of $207.99 million during 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%. Rapid7’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned ($0.33) earnings per share. Analysts expect that Rapid7 will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Reeny Sondhi sold 3,663 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

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.