Rapid7 Stock Price, News & Analysis

Rapid7, Inc. (NASDAQ: RPD) has announced the addition of third-party detections to its Managed Threat Complete (MTC) solution, enhancing its Managed Detection and Response (MDR) service. This expansion includes coverage for CrowdStrike Falcon, SentinelOne Singularity Endpoint, and Microsoft Defender for Endpoint.

The enhanced service leverages Rapid7's next-gen SIEM foundation to integrate and correlate diverse telemetry across the attack surface, including endpoint, network, user, and cloud. This broader coverage aims to provide critical context and faster investigations for more effective response to modern threats.

Key benefits of the extended ecosystem monitoring include:

• Enhanced visibility across customers' environments
• Reduced noise with high-efficacy detections
• Optimized response through broader telemetry and correlation

This update aligns with Rapid7's strategy to provide comprehensive attack surface monitoring across various security solutions.

Rapid7, Inc. (NASDAQ: RPD) has been named a Leader in the IDC MarketScape: Worldwide SIEM for Enterprise 2024 Vendor Assessment. This recognition follows their positioning as a Leader in the IDC MarketScape for SMB earlier this month. Rapid7's InsightIDR, a next-generation SIEM solution, is designed for modern threat detection and incident response (TDIR). It offers:

1. A robust library of detections across multiple attack vectors
2. AI-charged behavioral detections
3. Known attacker indicators
4. Emergent threat coverage

InsightIDR's cloud-native foundation allows security teams to scale defenses with growing attack surfaces. It provides highly correlated investigation timelines, integrated access to the Velociraptor DFIR framework, and embedded SOAR for quick threat assessment and action.

Rapid7 (NASDAQ: RPD) has unveiled Vector Command, a fully-managed offensive security service that combines the company's Command Platform with continuous Red Teaming services. This new offering aims to help organizations identify and validate IT security posture weaknesses from an attacker's perspective.

Vector Command provides continuous discovery, assessment, and validation of an organization's external attack surface, going beyond vulnerabilities to confirm the effectiveness of overall IT security posture and controls. Key benefits include increased visibility of the external attack surface, improved risk prioritization through expert-led Red Team operations, and same-day reporting of successful exploits with clearly visualized attack paths.

Rapid7, Inc. (NASDAQ: RPD) has been named a Leader in the IDC MarketScape: Worldwide SIEM for SMB 2024 report. The company's InsightIDR solution was recognized for its asset-based pricing, ease of implementation, and up-to-date threat intelligence. InsightIDR is a cloud-native, SaaS-based solution that can be deployed in as little as one day, offering unified data analysis and actionable insights for security teams. The IDC MarketScape evaluation considered factors such as functionality, pricing model, customer satisfaction, and strategic plans. Rapid7's recognition highlights its strong customer satisfaction and strategy for continued product momentum.

Rapid7 (Nasdaq: RPD) announced its Q2 2024 financial results, showing solid growth. Annualized recurring revenue (ARR) reached $816 million, up 9% year-over-year. Total revenue increased 9% to $208 million, with product subscriptions revenue up 10% to $200 million. The company reported GAAP operating income of $7 million and non-GAAP operating income of $39 million.

Rapid7 also highlighted recent achievements, including the acquisition of Noetic Cyber and the incorporation of large-language models into its AI Engine. The company provided guidance for Q3 and full-year 2024, projecting continued growth in ARR and revenue.

Rapid7 (NASDAQ: RPD) has released its Ransomware Radar Report, analyzing over 70 active ransomware groups, including 21 new ones in 2024. The report reveals that ransomware groups are refining their techniques, operating like legitimate enterprises with marketing strategies and bug bounty programs. Key findings include:

1. A 23% increase in leak site posts, totaling 2,611 in H1 2024.
2. Smaller organizations with ~$5 million annual revenue are targeted more frequently.
3. Three major clusters of ransomware families with similar source code were identified.
4. The number of groups posting to leak sites increased from 24 per month in H1 2023 to 40 per month in H1 2024.

This research aims to inform cybersecurity strategies and improve ransomware prevention, detection, and response technologies.

Rapid7 (NASDAQ: RPD) has launched the Command Platform, a unified threat exposure, detection, and response platform. The AI-powered platform integrates critical security data to provide a comprehensive view of vulnerabilities and threats from endpoint to cloud. Two key solutions introduced are:

1. Exposure Command: Helps detect and prioritize exposures across the attack surface.

2. Surface Command: Discovers and provides visibility into assets across internal and external attack surfaces.

The platform aims to help organizations take command of their attack surface, offering greater visibility and trust in security operations. It integrates native cloud and on-prem assessment with data from various IT, security, and business tools to enable efficient risk management.

Commercetools announced the appointment of Andrew Burton as its new CEO, effective July 8, 2024. Burton succeeds co-founder Dirk Hoerig, who will transition to Chief Innovation Officer. Burton brings over 25 years of experience, having significantly grown Rapid7's ARR from ~$150M to over $800M. Hoerig will now focus on product innovation and customer relationships.

Recent milestones for commercetools include being named a Leader in the IDC MarketScape report, launching a HIPAA-compliant solution, and introducing commercetools Foundry. The company saw +65% ARR growth in the Americas and a +45% YoY increase in GMV to over $30 billion in 2023. Burton is the third significant hire in the last 18 months, aiming to drive further growth and innovation.

Rapid7 (NASDAQ: RPD) will announce its second quarter 2024 financial results on August 6, 2024, after market close. The company, recognized for its expertise in extended risk and threat detection, will host a conference call at 4:30 p.m. ET on the same day to discuss the results and provide a business outlook. Interested parties can access the call via telephone or a live webcast, with details available on the company’s investor relations website.