Analysts Issue Forecasts for Rapid7, Inc.’s Q3 2024 Earnings (NASDAQ:RPD)

Rapid7, Inc. (NASDAQ:RPD) – DA Davidson issued their Q3 2024 EPS estimates for shares of Rapid7 in a research note issued to investors on Wednesday, August 7th. DA Davidson analyst R. Kessinger expects that the technology company will post earnings per share of $0.14 for the quarter. The consensus estimate for Rapid7’s current full-year earnings is $0.75 per share.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $207.99 million for the quarter, compared to analyst estimates of $204.04 million. Rapid7 had a negative net margin of 5.64% and a negative return on equity of 58.27%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS.

Several other brokerages also recently issued reports on RPD. Mizuho decreased their price target on Rapid7 from $62.00 to $47.00 and set a “neutral” rating for the company in a report 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. Citigroup lowered their target price on Rapid7 from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a research note on Wednesday. Finally, UBS Group dropped their price objective on Rapid7 from $65.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has an average rating of “Hold” and a consensus price target of $46.75.

Rapid7 Stock Performance

Shares of NASDAQ:RPD traded down $0.61 during midday trading on Thursday, reaching $36.16. The company’s stock had a trading volume of 472,018 shares, compared to its average volume of 829,806. Rapid7 has a fifty-two week low of $32.94 and a fifty-two week high of $61.88. The firm has a 50 day moving average price of $38.68 and a two-hundred day moving average price of $45.67. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -17.64 and a beta of 0.98.

Institutional Investors Weigh In On Rapid7

A number of institutional investors have recently modified their holdings of RPD. First Trust Advisors LP raised its stake in Rapid7 by 49.2% during the 4th quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock worth $194,668,000 after acquiring an additional 1,124,429 shares during the period. Norges Bank purchased a new stake in shares of Rapid7 in the fourth quarter valued at $37,790,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapid7 by 46.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,254,323 shares of the technology company’s stock worth $61,512,000 after acquiring an additional 397,968 shares during the last quarter. Cannae Holdings Inc. bought a new position in Rapid7 during the 2nd quarter valued at about $15,130,000. Finally, SG Americas Securities LLC lifted its stake in Rapid7 by 7,688.6% in the second quarter. SG Americas Securities LLC now owns 165,196 shares of the technology company’s stock worth $7,141,000 after purchasing an additional 163,075 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.