FY2024 Earnings Forecast for Rapid7 Issued By DA Davidson

Rapid7, Inc. (NASDAQ:RPD) – Equities researchers at DA Davidson boosted their FY2024 EPS estimates for shares of Rapid7 in a note issued to investors on Thursday, November 7th. DA Davidson analyst R. Kessinger now forecasts that the technology company will post earnings of $0.92 per share for the year, up from their previous estimate of $0.78. DA Davidson currently has a “Neutral” rating and a $39.00 price target on the stock. The consensus estimate for Rapid7’s current full-year earnings is $0.81 per share. DA Davidson also issued estimates for Rapid7’s FY2025 earnings at $1.02 EPS.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a net margin of 5.65% and a negative return on equity of 99.08%. The firm had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis.

A number of other research firms also recently weighed in on RPD. Needham & Company LLC restated a “hold” rating on shares of Rapid7 in a report on Wednesday, August 7th. Truist Financial lowered their price target on shares of Rapid7 from $40.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada cut shares of Rapid7 from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $50.00 to $40.00 in a research report on Friday, September 20th. Baird R W cut shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group started coverage on Rapid7 in a research note on Wednesday, October 16th. They issued a “buy” rating and a $50.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.59.

Rapid7 Trading Up 0.9 %

Shares of RPD stock opened at $41.76 on Monday. The business’s 50-day moving average price is $38.20 and its 200-day moving average price is $38.59. Rapid7 has a 12 month low of $32.94 and a 12 month high of $61.88. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 66.29 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RPD. International Assets Investment Management LLC raised its holdings in Rapid7 by 3,888.2% during the 3rd quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock valued at $27,000 after acquiring an additional 661 shares during the period. Quest Partners LLC bought a new stake in shares of Rapid7 during the 2nd quarter valued at $35,000. Summit Securities Group LLC bought a new stake in shares of Rapid7 during the 2nd quarter valued at $43,000. Financial Connections Group Inc. purchased a new stake in Rapid7 during the 2nd quarter worth about $72,000. Finally, Point72 Hong Kong Ltd boosted its stake in Rapid7 by 315.0% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,575 shares during the period. Institutional investors own 95.66% of the company’s stock.

Insider Activity at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now directly owns 17,460 shares of the company’s stock, valued at approximately $698,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

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.