Rapid7 (NASDAQ:RPD) Issues Q3 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.50-0.53 for the period, compared to the consensus earnings per share estimate of $0.53. The company issued revenue guidance of $209-211 million, compared to the consensus revenue estimate of $209.28 million. Rapid7 also updated its FY 2024 guidance to 2.150-2.200 EPS.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RPD. JPMorgan Chase & Co. cut their target price on Rapid7 from $46.00 to $39.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Susquehanna decreased their price objective on shares of Rapid7 from $55.00 to $40.00 and set a neutral rating for the company in a report on Monday, May 13th. Robert W. Baird lowered shares of Rapid7 from an outperform rating to a neutral rating and decreased their price objective for the stock from $56.00 to $45.00 in a report on Thursday, August 1st. Needham & Company LLC reissued a hold rating on shares of Rapid7 in a report on Wednesday. Finally, KeyCorp raised shares of Rapid7 to a hold rating in a report on Monday, June 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $46.75.

Rapid7 Stock Performance

Shares of RPD stock traded up $0.08 during midday trading on Friday, reaching $36.85. 94,074 shares of the company were exchanged, compared to its average volume of 923,689. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The company has a market cap of $2.30 billion, a P/E ratio of -17.94 and a beta of 0.98. The company’s 50 day moving average price is $38.68 and its two-hundred day moving average price is $45.80.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. As a group, sell-side analysts predict that Rapid7 will post 0.75 earnings per share for the current year.

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.