Rapid7 (NASDAQ:RPD) Releases Q3 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.500-0.530 for the period, compared to the consensus estimate of 0.530. The company issued revenue guidance of $209.0 million-$211.0 million, compared to the consensus revenue estimate of $209.2 million. Rapid7 also updated its FY 2024 guidance to 2.150-2.200 EPS.

Analysts Set New Price Targets

RPD has been the topic of a number of research reports. Susquehanna cut their price objective on Rapid7 from $55.00 to $40.00 and set a neutral rating on the stock in a report on Monday, May 13th. UBS Group cut their price objective on Rapid7 from $65.00 to $59.00 and set a buy rating on the stock in a report on Wednesday. Canaccord Genuity Group raised Rapid7 from a hold rating to a buy rating and cut their price objective for the company from $52.00 to $43.00 in a report on Wednesday. Stifel Nicolaus cut their price objective on Rapid7 from $63.00 to $51.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a hold rating on shares of Rapid7 in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Rapid7 presently has an average rating of Hold and an average target price of $46.75.

Rapid7 Trading Up 1.3 %

RPD stock traded up $0.47 during midday trading on Thursday, hitting $36.77. 635,377 shares of the company’s stock were exchanged, compared to its average volume of 929,147. The business has a 50-day simple moving average of $38.68 and a two-hundred day simple moving average of $45.80. The stock has a market capitalization of $2.29 billion, a PE ratio of -17.94 and a beta of 0.98. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88.

Rapid7 (NASDAQ:RPD) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $204.04 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) earnings per share. As a group, research analysts expect that Rapid7 will post 0.75 EPS for the current fiscal 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.