Rapid7 (NASDAQ:RPD) Updates 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.

Wall Street Analyst Weigh In

Several research firms have issued reports on RPD. StockNews.com raised Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler dropped their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday. DA Davidson lifted their price target on Rapid7 from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada downgraded Rapid7 from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, Scotiabank dropped their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Fourteen equities 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.com, the stock has an average rating of “Hold” and an average price target of $44.59.

Rapid7 Stock Down 1.8 %

RPD traded down $0.74 during trading on Friday, reaching $40.54. 1,005,365 shares of the stock traded hands, compared to its average volume of 848,452. The stock has a market capitalization of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. The stock’s 50-day moving average is $38.02 and its 200 day moving average is $38.76. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88.

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 net margin of 5.65% and a negative return on equity of 99.08%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. As a group, equities research analysts anticipate that Rapid7 will post 0.8 EPS for the current year.

Insider Activity at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of Rapid7 stock in a transaction dated Monday, September 30th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by 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.