Rapid7 (NASDAQ:RPD) Issues FY24 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.10-2.21 for the period, compared to the consensus estimate of $2.17. The company issued revenue guidance of $830-836 million, compared to the consensus revenue estimate of $852.98 million. Rapid7 also updated its Q2 guidance to $0.50-0.53 EPS.

Analysts Set New Price Targets

RPD has been the topic of several recent research reports. StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Citigroup raised Rapid7 from a neutral rating to a buy rating and lifted their price objective for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Barclays increased their price target on Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price objective for the company. Finally, UBS Group upgraded Rapid7 from a neutral rating to a buy rating and increased their target price for the company from $53.00 to $70.00 in a research note on Monday, January 29th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $55.56.

Rapid7 Stock Down 0.9 %

RPD traded down $0.41 during trading on Tuesday, reaching $45.80. 631,635 shares of the company’s stock were exchanged, compared to its average volume of 713,313. Rapid7 has a fifty-two week low of $39.49 and a fifty-two week high of $61.88. The company has a market capitalization of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01. The business has a 50 day moving average price of $49.62 and a 200 day moving average price of $52.84.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. As a group, research analysts forecast that Rapid7 will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction on Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Company 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.