Rapid7 (NASDAQ:RPD) Issues Q2 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.50-0.53 for the period, compared to the consensus EPS estimate of $0.51. The company issued revenue guidance of $203-205 million, compared to the consensus revenue estimate of $209.42 million. Rapid7 also updated its FY24 guidance to $2.10-2.21 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RPD. Scotiabank assumed coverage on shares of Rapid7 in a research report on Friday, April 26th. They set a sector perform rating and a $46.00 price target on the stock. Barclays cut their target price on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a research report on Wednesday. UBS Group cut their target price on shares of Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird cut their target price on shares of Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Rapid7 currently has a consensus rating of Hold and a consensus price target of $52.13.

Rapid7 Stock Down 17.0 %

RPD traded down $7.80 during midday trading on Wednesday, hitting $38.00. The company had a trading volume of 9,293,338 shares, compared to its average volume of 809,718. Rapid7 has a 52 week low of $35.22 and a 52 week high of $61.88. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The stock’s 50 day moving average price is $49.41 and its 200 day moving average price is $52.81.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating 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 net margin of 19.19% and a negative return on equity of 1.36%. Research analysts predict that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling

In related news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated 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 sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 20,653 shares of Rapid7 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 completion of the sale, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.