Rapid7 (NASDAQ:RPD) Updates 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada downgraded shares of Rapid7 from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $50.00 to $40.00 in a report on Friday, September 20th. Canaccord Genuity Group raised shares of Rapid7 from a “hold” rating to a “buy” rating and cut their price target for the company from $52.00 to $43.00 in a report on Wednesday, August 7th. Piper Sandler reduced their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Robert W. Baird downgraded Rapid7 from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Finally, DA Davidson upped their target price on Rapid7 from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.59.

Rapid7 Stock Performance

RPD stock opened at $40.54 on Friday. The company 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 company’s 50 day moving average price is $38.02 and its two-hundred day moving average price 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 analysts’ consensus estimates of $0.52 by $0.06. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The company had revenue of $207.99 million for the quarter, compared to analysts’ expectations of $204.04 million. During the same quarter last year, the company earned ($0.33) EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts predict that Rapid7 will post 0.8 EPS for the current year.

Insider Transactions at Rapid7

In other Rapid7 news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 17,460 shares in the company, valued at approximately $698,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.