What is DA Davidson’s Forecast for Rapid7 Q4 Earnings?

Rapid7, Inc. (NASDAQ:RPD) – DA Davidson issued their Q4 2024 earnings per share estimates for Rapid7 in a report released on Thursday, November 7th. DA Davidson analyst R. Kessinger expects that the technology company will post earnings of $0.16 per share for the quarter. 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 $0.80 per share.

Several other research firms have also commented on RPD. Canaccord Genuity Group upgraded Rapid7 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $52.00 to $43.00 in a report on Wednesday, August 7th. StockNews.com upgraded shares of Rapid7 from a “hold” rating to a “buy” rating in a report on Friday. Baird R W downgraded shares of Rapid7 from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group reduced their price target on shares of Rapid7 from $59.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Scotiabank lowered their price objective on Rapid7 from $45.00 to $41.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.59.

Rapid7 Price Performance

RPD opened at $40.54 on Friday. The company’s 50 day simple moving average is $38.02 and its two-hundred day simple moving average is $38.71. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.35 and a beta of 0.96. Rapid7 has a 1-year low of $32.94 and a 1-year high of $61.88.

Institutional Investors Weigh In On Rapid7

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its position in Rapid7 by 1.1% during the first quarter. Comerica Bank now owns 25,356 shares of the technology company’s stock worth $1,243,000 after buying an additional 281 shares during the period. Virtu Financial LLC raised its position in Rapid7 by 7.1% in the 1st quarter. Virtu Financial LLC now owns 5,198 shares of the technology company’s stock valued at $255,000 after purchasing an additional 346 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in Rapid7 by 14.5% in the 3rd 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 during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Rapid7 by 10.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,287 shares of the technology company’s stock worth $185,000 after purchasing an additional 400 shares during the period. Finally, Arizona State Retirement System grew its position in Rapid7 by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 17,352 shares of the technology company’s stock worth $750,000 after purchasing an additional 465 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rapid7

In related news, Director Reeny Sondhi sold 3,663 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $40.00, for a total value of $146,520.00. Following the transaction, the director now owns 17,460 shares of the company’s stock, valued at $698,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% 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.