Rapid7, Inc. (NASDAQ:RPD - Free Report) - Equities research analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for Rapid7 in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Colville now expects that the technology company will earn $0.99 per share for the year, up from their previous estimate of $0.78. The consensus estimate for Rapid7's current full-year earnings is $0.98 per share. Scotiabank also issued estimates for Rapid7's FY2025 earnings at $0.92 EPS.
Rapid7 (NASDAQ:RPD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 128.95%. The firm had revenue of $214.65 million for the quarter, compared to the consensus estimate of $210.04 million. During the same period last year, the firm earned $0.11 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis.
RPD has been the subject of several other research reports. Piper Sandler decreased their target price on shares of Rapid7 from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. StockNews.com raised shares of Rapid7 from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Jefferies Financial Group began coverage on shares of Rapid7 in a research note on Wednesday, October 16th. They set a "buy" rating and a $50.00 target price on the stock. Royal Bank of Canada lowered Rapid7 from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $50.00 to $40.00 in a research note on Friday, September 20th. Finally, Truist Financial lowered their price objective on Rapid7 from $40.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Fourteen 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.com, the stock has a consensus rating of "Hold" and an average target price of $44.59.
Get Our Latest Analysis on Rapid7
Rapid7 Stock Down 2.1 %
Shares of Rapid7 stock traded down $0.82 during midday trading on Monday, hitting $38.16. The company had a trading volume of 543,220 shares, compared to its average volume of 510,277. Rapid7 has a 12-month low of $32.94 and a 12-month high of $61.88. The company has a fifty day simple moving average of $40.86 and a 200 day simple moving average of $39.19. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 60.57 and a beta of 0.96.
Hedge Funds Weigh In On Rapid7
Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Rapid7 by 3,888.2% during the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company's stock worth $27,000 after buying an additional 661 shares during the period. Quest Partners LLC acquired a new stake in Rapid7 in the second quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new stake in Rapid7 during the 3rd quarter worth about $69,000. Point72 Hong Kong Ltd boosted its position in shares of Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company's stock worth $90,000 after acquiring an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. boosted its holdings in Rapid7 by 14.5% in the third quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company's stock valued at $111,000 after purchasing an additional 352 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
Rapid7 Company Profile
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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.
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