Rapid7, Inc. Forecasted to Post Q1 2024 Earnings of $0.16 Per Share (NASDAQ:RPD)

Rapid7, Inc. (NASDAQ:RPDFree Report) – Analysts at DA Davidson issued their Q1 2024 earnings per share estimates for shares of Rapid7 in a research report issued on Thursday, February 8th. DA Davidson analyst R. Kessinger expects that the technology company will earn $0.16 per share for the quarter. The consensus estimate for Rapid7’s current full-year earnings is $0.31 per share.

Rapid7 (NASDAQ:RPDGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.33%.

Several other equities research analysts also recently weighed in on the company. Wolfe Research raised Rapid7 from a “peer perform” rating to an “outperform” rating and set a $56.00 price objective for the company in a report on Friday, November 3rd. UBS Group raised Rapid7 from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $70.00 in a research report on Monday, January 29th. Barclays raised their price objective on shares of Rapid7 from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 target price on shares of Rapid7 in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.13.

View Our Latest Stock Report on Rapid7

Rapid7 Stock Up 3.1 %

Shares of NASDAQ RPD opened at $58.73 on Friday. The business has a 50-day moving average price of $56.24 and a 200 day moving average price of $51.04. The stock has a market cap of $3.61 billion, a PE ratio of -23.40 and a beta of 1.04. Rapid7 has a 52-week low of $37.29 and a 52-week high of $60.15.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Rapid7 by 3,367.9% during the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after buying an additional 943 shares in the last quarter. Strs Ohio boosted its position in Rapid7 by 62.5% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the technology company’s stock worth $58,000 after acquiring an additional 500 shares during the period. State of Wyoming increased its holdings in shares of Rapid7 by 315.1% in the 4th quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock valued at $72,000 after purchasing an additional 1,607 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Rapid7 during the 3rd quarter valued at about $87,000. Finally, Financial Connections Group Inc. acquired a new position in Rapid7 during the fourth quarter worth $95,000. Institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $53.68, for a total value of $912,560.00. Following the completion of the transaction, the chief operating officer now owns 224,038 shares in the company, valued at approximately $12,026,359.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Rapid7 Company Profile

(Get Free Report)

Rapid7, Inc provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a cloud risk and compliance management platform; InsightVM helps organizations to discover and remediate vulnerability risk across their network; InsightAppSec that provides dynamic application security testing; and InsightConnect, a security orchestration and automation response solution.

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