Rapid7 (NASDAQ:RPD) Updates Q3 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.500-0.530 for the period, compared to the consensus earnings per share 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.

Rapid7 Stock Performance

Shares of RPD stock traded down $0.24 on Friday, reaching $36.53. 168,864 shares of the company’s stock traded hands, compared to its average volume of 924,178. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The company has a market capitalization of $2.28 billion, a P/E ratio of -17.94 and a beta of 0.98. The business’s 50 day moving average price is $38.68 and its two-hundred day moving average price is $45.80.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RPD. Needham & Company LLC restated a hold rating on shares of Rapid7 in a research note on Wednesday. Barclays lowered their target price on Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a research note on Wednesday, May 8th. Baird R W cut Rapid7 from a strong-buy rating to a hold rating in a research report on Thursday, August 1st. Mizuho reduced their price target on Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an outperform rating and set a $50.00 price objective on shares of Rapid7 in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $46.75.

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.