Rapid7 (NASDAQ:RPD) Issues 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 (EPS) guidance of 2.280-2.310 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several brokerages have recently issued reports on RPD. Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $40.00 in a research note on Friday, September 20th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and dropped their price target for the stock from $52.00 to $43.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group raised Rapid7 from a “hold” rating to a “buy” rating and dropped their price target for the stock from $52.00 to $43.00 in a research report on Wednesday, August 7th. Piper Sandler cut their price objective on shares of Rapid7 from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group dropped their price target on Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.44.

Rapid7 Stock Performance

Shares of RPD stock traded up $1.50 on Wednesday, reaching $41.60. The stock had a trading volume of 1,277,422 shares, compared to its average volume of 846,312. The company has a 50 day simple moving average of $37.81 and a 200 day simple moving average of $38.75. The stock has a market cap of $2.61 billion, a P/E ratio of -49.52 and a beta of 0.96. Rapid7 has a 1 year low of $32.94 and a 1 year high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data 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 net margin of 5.64% and a negative return on equity of 67.88%. The business had revenue of $207.99 million during the quarter, compared to analysts’ expectations of $204.04 million. During the same period last year, the company posted ($0.33) EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts anticipate that Rapid7 will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.