Equities Analysts Set Expectations for Rapid7 Q4 Earnings

Rapid7, Inc. (NASDAQ:RPD - Free Report) - Equities researchers at DA Davidson issued their Q4 2024 EPS estimates for Rapid7 in a research note issued on Thursday, November 7th. DA Davidson analyst R. Kessinger forecasts that the technology company will earn $0.16 per share for the quarter. DA Davidson currently has a "Neutral" rating and a $39.00 target price on the stock. The consensus estimate for Rapid7's current full-year earnings is $0.80 per share.

Other equities research analysts also recently issued research reports about the stock. Baird R W downgraded shares of Rapid7 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 1st. Canaccord Genuity Group upgraded Rapid7 from a "hold" rating to a "buy" rating and reduced their price objective for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Robert W. Baird cut Rapid7 from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $56.00 to $45.00 in a research report on Thursday, August 1st. Canaccord Genuity Group raised shares of Rapid7 from a "hold" rating to a "buy" rating and reduced their price target for the company from $52.00 to $43.00 in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on shares of Rapid7 from $59.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.59.

Rapid7 Stock Performance

Shares of RPD stock traded down $0.74 during trading hours on Friday, reaching $40.54. The company had a trading volume of 1,005,345 shares, compared to its average volume of 848,452. The firm has a market cap of $2.54 billion, a PE ratio of 64.35 and a beta of 0.96. The business has a fifty day moving average price of $38.02 and a 200-day moving average price of $38.76. Rapid7 has a one year low of $32.94 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The business had revenue of $207.99 million for the quarter, compared to analysts' expectations of $204.04 million. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.33) EPS.

Hedge Funds Weigh In On Rapid7

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC grew its position in Rapid7 by 4.2% in the first quarter. Mutual of America Capital Management LLC now owns 83,181 shares of the technology company's stock worth $4,079,000 after acquiring an additional 3,382 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rapid7 during the 1st quarter valued at $83,000. GSA Capital Partners LLP lifted its holdings in shares of Rapid7 by 235.9% in the 1st quarter. GSA Capital Partners LLP now owns 14,714 shares of the technology company's stock worth $722,000 after buying an additional 10,333 shares during the period. Quantbot Technologies LP bought a new position in shares of Rapid7 during the 1st quarter worth $218,000. Finally, Swiss National Bank increased its stake in shares of Rapid7 by 1.0% during the first quarter. Swiss National Bank now owns 121,300 shares of the technology company's stock valued at $5,949,000 after buying an additional 1,200 shares during the period. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $40.00, for a total transaction of $146,520.00. Following the completion of the transaction, the director now directly owns 17,460 shares of the company's stock, valued at approximately $698,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.