Rapid7, Inc. Forecasted to Earn Q2 2024 Earnings of $0.20 Per Share (NASDAQ:RPD)

Rapid7, Inc. (NASDAQ:RPD - Free Report) - Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Rapid7 in a report released on Wednesday, May 8th. DA Davidson analyst R. Kessinger expects that the technology company will post earnings per share of $0.20 for the quarter. The consensus estimate for Rapid7's current full-year earnings is $0.86 per share. DA Davidson also issued estimates for Rapid7's FY2025 earnings at $0.99 EPS.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group reduced their target price on shares of Rapid7 from $60.00 to $52.00 and set a "hold" rating for the company in a report on Wednesday. Truist Financial lowered their target price on Rapid7 from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday. Barclays reduced their price target on Rapid7 from $60.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday. UBS Group lowered their price objective on Rapid7 from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Scotiabank assumed coverage on shares of Rapid7 in a research note on Friday, April 26th. They issued a "sector perform" rating and a $46.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $52.13.

Rapid7 Price Performance

NASDAQ:RPD traded down $0.09 during midday trading on Friday, hitting $37.85. The company's stock had a trading volume of 1,434,345 shares, compared to its average volume of 833,495. Rapid7 has a fifty-two week low of $35.22 and a fifty-two week high of $61.88. The firm's 50 day moving average is $48.62 and its 200-day moving average is $52.60. The firm has a market cap of $2.36 billion, a P/E ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to analysts' expectations of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%.

Insider Activity at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the firm's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now directly owns 236,841 shares of the company's stock, valued at $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RPD. Lisanti Capital Growth LLC purchased a new stake in Rapid7 during the 4th quarter worth approximately $3,522,000. Duality Advisers LP acquired a new stake in shares of Rapid7 in the fourth quarter valued at $235,000. Tudor Investment Corp Et Al boosted its holdings in Rapid7 by 46.5% in the third quarter. Tudor Investment Corp Et Al now owns 145,102 shares of the technology company's stock valued at $6,643,000 after purchasing an additional 46,053 shares during the period. Exchange Traded Concepts LLC increased its holdings in Rapid7 by 34.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,448 shares of the technology company's stock worth $2,424,000 after purchasing an additional 10,798 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Rapid7 by 47.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the technology company's stock valued at $3,127,000 after purchasing an additional 22,100 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.