Rapid7 (NASDAQ:RPD) Issues Q3 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.500-0.530 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on RPD. Needham & Company LLC restated a hold rating on shares of Rapid7 in a research report on Friday, May 10th. Scotiabank initiated coverage on Rapid7 in a research report on Friday, April 26th. They issued a sector perform rating and a $46.00 target price for the company. Robert W. Baird lowered shares of Rapid7 from an outperform rating to a neutral rating and cut their price target for the stock from $56.00 to $45.00 in a research note on Thursday, August 1st. KeyCorp raised shares of Rapid7 to a hold rating in a research note on Monday, June 17th. Finally, Canaccord Genuity Group cut their target price on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a research note on Wednesday, May 8th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Rapid7 has an average rating of Hold and an average price target of $49.00.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.42 on Tuesday, hitting $33.02. 1,686,843 shares of the company’s stock were exchanged, compared to its average volume of 920,710. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88. The company has a market capitalization of $2.06 billion, a PE ratio of -16.11 and a beta of 0.98. The firm’s 50-day moving average is $38.68 and its 200 day moving average is $45.93.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $205.10 million during the quarter, compared to the consensus estimate of $204.10 million. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. On average, analysts anticipate that Rapid7 will post 0.75 EPS for the current fiscal year.

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.