FY2024 EPS Estimates for Rapid7, Inc. (NASDAQ:RPD) Increased by DA Davidson

Rapid7, Inc. (NASDAQ:RPDFree Report) – Equities researchers at DA Davidson upped their FY2024 earnings per share (EPS) estimates for shares of Rapid7 in a research report issued on Thursday, February 8th. DA Davidson analyst R. Kessinger now anticipates that the technology company will earn $0.87 per share for the year, up from their prior forecast of $0.42. The consensus estimate for Rapid7’s current full-year earnings is $0.36 per share. DA Davidson also issued estimates for Rapid7’s FY2025 earnings at $1.01 EPS.

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 analysts’ consensus estimates 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 1.33% and a negative net margin of 19.19%.

Several other equities research analysts also recently weighed in on RPD. Susquehanna started coverage on Rapid7 in a report on Friday, December 15th. They issued a “neutral” rating and a $55.00 price target for the company. UBS Group upgraded Rapid7 from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Morgan Stanley boosted their price objective on Rapid7 from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 7th. Citigroup raised Rapid7 from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Finally, Truist Financial boosted their price target on shares of Rapid7 from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.20.

Read Our Latest Stock Analysis on RPD

Rapid7 Stock Performance

Shares of NASDAQ RPD opened at $60.96 on Monday. The company has a market cap of $3.75 billion, a PE ratio of -24.29 and a beta of 1.04. The business has a 50-day simple moving average of $56.44 and a two-hundred day simple moving average of $51.33. Rapid7 has a fifty-two week low of $37.29 and a fifty-two week high of $61.88.

Institutional Trading of Rapid7

Several hedge funds have recently made changes to their positions in RPD. International Assets Investment Management LLC increased its holdings in shares of Rapid7 by 3,367.9% in the 4th quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock valued at $55,000 after acquiring an additional 943 shares during the last quarter. Strs Ohio increased its stake in Rapid7 by 62.5% in the second quarter. Strs Ohio now owns 1,300 shares of the technology company’s stock valued at $58,000 after purchasing an additional 500 shares during the last quarter. State of Wyoming raised its holdings in Rapid7 by 315.1% during the fourth quarter. State of Wyoming now owns 2,117 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,607 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Rapid7 during the 3rd quarter worth approximately $87,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Rapid7 during the 4th quarter worth approximately $95,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 17,000 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $53.68, for a total transaction of $912,560.00. Following the sale, the chief operating officer now owns 224,038 shares of the company’s stock, valued at $12,026,359.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

About Rapid7

(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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Earnings History and Estimates for Rapid7 (NASDAQ:RPD)

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