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Rapid7, Inc. - RPD STOCK NEWS

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Rapid7, Inc. (NASDAQ: RPD) is a prominent cybersecurity company dedicated to creating a safer digital world by simplifying cybersecurity for organizations. Founded in 2000 and headquartered in Boston, Rapid7 has grown to become a global leader in providing comprehensive security solutions.

With a focus on vulnerability management, extended detection and response (XDR), security information and event management (SIEM), cloud security, threat intelligence, and security orchestration, automation, and response (SOAR), Rapid7 empowers over 11,000 customers worldwide. These solutions help security teams reduce vulnerabilities, detect and respond to threats, and automate routine tasks, ensuring robust protection against cyberattacks.

Rapid7 recently announced the opening of a new office in Prague, Czech Republic, which will serve as a hub for technical talent and innovation. This new location will also house a Security Operations Center (SOC) to enhance the company's 24x7 Managed Detection and Response (MDR) services. The Prague office aims to create over 100 jobs by mid-2024, focusing on areas like data engineering, software development, and IT.

Continuing its trend of innovation, Rapid7 introduced an AI-powered cloud anomaly detection solution. This offering improves the speed and accuracy of threat detection in cloud environments, reducing false positives and enabling rapid response to actual threats. This solution is currently available for select customers and integrates seamlessly with Rapid7's existing platform.

Rapid7's Managed Digital Risk Protection (DRP) service further extends its security offerings by monitoring external threats on the clear, deep, and dark web. This service, combined with MDR, provides comprehensive coverage of both internal and external attack surfaces, significantly enhancing threat detection and response capabilities.

The company has received industry recognition for its InsightIDR solution, which was named the Best SIEM Solution at the SC Awards Europe 2024. InsightIDR stands out for its ability to streamline detection and response through precise alerting, detailed investigations, and actionable automation.

Rapid7’s commitment to research is highlighted by its annual Attack Intelligence Report, which provides valuable insights into modern cyber threats. The 2024 report emphasized the increasing threat of zero-day vulnerabilities and the importance of timely patching and mitigation strategies.

Overall, Rapid7 continues to expand its global footprint, invest in innovation, and deliver top-tier cybersecurity solutions, making it a vital player in the fight against cyber threats.

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Rapid7's SIEM solution, InsightIDR, has been awarded Best SIEM Solution at the SC Awards Europe 2024, marking the second time it has received this honor, with the previous win in 2022.

InsightIDR is praised for its ability to manage hybrid attack surfaces with embedded intelligence, AI-powered detections, and automated responses. It is noted for its high fidelity threat library and its role in enhancing operational efficiency and reducing the need for multiple security products.

The SC Awards Europe evaluates products based on their ability to exceed customer expectations, with a panel of 29 judges from various industries.

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Rapid7 (NASDAQ: RPD) has announced a collaboration with Comcast Business to support the new Comcast Business Managed Detection and Response (MDR) solution. This initiative leverages Rapid7’s security analytics and expertise to help enterprises of all sizes manage cyber threats. The MDR service combines technology and human expertise for threat hunting, monitoring, and incident response, allowing rapid threat identification and response without additional staffing. Rapid7's platform includes Next-Generation Antivirus (NGAV) and Ransomware Prevention, aimed at stopping malware and ransomware attacks early to minimize impact. Jeremiah Dewey, SVP at Rapid7, highlighted the combination of a 24/7 Security Operations Center and advanced SecOps technology in delivering superior threat detection and prevention.

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Rapid7 has released its 2024 Attack Intelligence Report, highlighting significant trends in cyber threats, based on data dating back to 2019. The report reveals that more than half (53%) of mass compromise events in 2023 stemmed from zero-day vulnerabilities, a notable increase from 43% in 2022. It also notes that 36% of widely exploited vulnerabilities occurred in network perimeter technologies.

Other key points include the prevalence of simpler exploits like command injection, and that 41% of incidents observed in 2023 resulted from missing or weak multi-factor authentication. Rapid7 tracked over 5,600 ransomware incidents in 2023. The report underscores the critical need for zero-day patching and enhanced logging to combat these advanced threats.

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Rapid7 (NASDAQ: RPD), a leader in extended risk and threat detection, will attend two upcoming investor conferences. The J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference in Boston, MA, is scheduled for May 21, 2024, at 3:45 p.m. Eastern Time. Additionally, Rapid7 will participate in the 2nd Annual UBS Women in Tech Summit in San Francisco, CA, on June 11, 2024. The company's presentation from the J.P. Morgan conference will be webcast live, with a replay available on Rapid7's investor relations website.

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Rapid7, Inc. (NASDAQ: RPD) has introduced new patented ransomware prevention technology to provide end-to-end coverage and accelerate detection and response time. The company's approach disrupts attacks at the earliest stage, addressing the increasing threat of ransomware attacks. The technology is integrated into Rapid7 Managed Threat Complete, offering a multi-layered defense to stop threats before they escalate. By combining prevention with existing threat detection capabilities, Rapid7 aims to enhance customer safety and efficiency in SOC environments.

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Rapid7, Inc. (Nasdaq: RPD) announced its first quarter 2024 financial results, revealing an ARR of $807 million, up 11% YoY, with total revenue reaching $205 million, a 12% increase. GAAP operating income was $11 million, while non-GAAP operating income stood at $40 million. The company reported positive net cash flow and free cash flow figures. The CEO highlighted challenges in shifting VM base to Cloud Risk Complete but remains optimistic about long-term growth. Although total ARR fell below expectations, profitability metrics were strong. Rapid7 provided guidance for the second quarter and full-year 2024, with expectations of revenue growth, non-GAAP income, net income per share, and free cash flow.

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Rapid7, Inc. (RPD) will release its first quarter 2024 financial results on May 7, 2024, after the market closes. A conference call to discuss the results and business outlook will be held at 4:30 p.m. Eastern Time. The call can be accessed via phone or webcast.
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Rapid7, Inc. announces the winners of its 2024 Partner of the Year Awards, recognizing partners for customer impacts and collaboration. The awards span North America, EMEA, and APJ regions, honoring partners in various categories. Rapid7 highlights the importance of partner relationships in providing market-leading solutions.
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Rapid7, Inc. (RPD) announces its participation in upcoming conferences like The Wolfe Research 'March Madness' Software Conference, Raymond James 45th Annual Institutional Investors Conference, and Morgan Stanley Technology, Media & Telecom Conference. The company will present at the latter, with a live webcast and replay available on its investor relations website.
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Rapid7, Inc. (RPD) reported annualized recurring revenue of $806 million, up 13% year-over-year. Full-year revenue was $778 million, up 14% year-over-year. The company achieved full-year non-GAAP operating income of $102 million and free cash flow of $84 million. Rapid7 anticipates annualized recurring revenue, revenue, non-GAAP income from operations, non-GAAP net income per share, and free cash flow to be in the following ranges for the first quarter and full-year 2024.
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FAQ

What is the current stock price of Rapid7 (RPD)?

The current stock price of Rapid7 (RPD) is $39.36 as of December 20, 2024.

What is the market cap of Rapid7 (RPD)?

The market cap of Rapid7 (RPD) is approximately 2.6B.

What is Rapid7, Inc.?

Rapid7, Inc. (NASDAQ: RPD) is a cybersecurity company that provides comprehensive security solutions such as vulnerability management, extended detection and response, and security information and event management.

When was Rapid7 founded?

Rapid7 was founded in the year 2000.

Where is Rapid7 headquartered?

Rapid7 is headquartered in Boston, Massachusetts, USA.

What recent expansions has Rapid7 undertaken?

Rapid7 recently opened a new office in Prague, Czech Republic, which will serve as a technical hub and house a new Security Operations Center (SOC).

What innovations has Rapid7 introduced recently?

Rapid7 introduced an AI-powered cloud anomaly detection solution to enhance threat detection and response in cloud environments.

What is Rapid7’s Managed Digital Risk Protection (DRP) service?

Managed DRP is an external threat monitoring and remediation service that identifies threats on the clear, deep, and dark web, enhancing overall security.

How does Rapid7 contribute to cybersecurity research?

Rapid7 publishes an annual Attack Intelligence Report, providing insights and guidance on modern cyber threats based on extensive research and data analysis.

What is InsightIDR?

InsightIDR is Rapid7's SIEM solution that streamlines detection and response with precise alerting, detailed investigations, and actionable automation.

How many employees does Rapid7 have?

Rapid7 employs approximately 2,300 people across its global offices.

How can I learn more about Rapid7’s job opportunities in Prague?

For more information on job opportunities at Rapid7’s Prague office, you can visit their careers page at https://careers.rapid7.com/rapid7-in-prague.

Rapid7, Inc.

Nasdaq:RPD

RPD Rankings

RPD Stock Data

2.55B
62.25M
1.52%
100.94%
5.27%
Software - Infrastructure
Services-prepackaged Software
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United States of America
BOSTON