Rapid7 (NASDAQ:RPD) Issues Q4 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.48-0.51 for the period, compared to the consensus estimate of $0.53. The company issued revenue guidance of $211-213 million, compared to the consensus revenue estimate of $212.10 million. Rapid7 also updated its FY 2024 guidance to 2.280-2.310 EPS.

Rapid7 Stock Down 1.8 %

NASDAQ RPD traded down $0.74 during trading hours on Friday, hitting $40.54. 1,005,345 shares of the company were exchanged, 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 stock has a 50-day moving average price of $37.97 and a 200 day moving average price of $38.79. The stock has a market cap of $2.54 billion, a PE 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. Rapid7 had a negative return on equity of 99.08% and a net margin of 5.65%. The business had revenue of $207.99 million during the quarter, compared to analyst estimates of $204.04 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rapid7 will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RPD shares. JPMorgan Chase & Co. boosted their target price on Rapid7 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird lowered Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $45.00 in a report on Thursday, August 1st. Piper Sandler lowered their price target on Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and lowered their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Finally, Scotiabank lowered their price target on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rapid7 has a consensus rating of “Hold” and a consensus price target of $44.59.

Insider Transactions at Rapid7

In other news, Director Reeny Sondhi sold 3,663 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total transaction of $146,520.00. Following the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

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.