Rapid7 (NASDAQ:RPD) Updates FY 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.100-2.210 for the period, compared to the consensus EPS estimate of 2.170. The company issued revenue guidance of $830.0 million-$836.0 million, compared to the consensus revenue estimate of $853.1 million. Rapid7 also updated its Q2 2024 guidance to 0.500-0.530 EPS.

Rapid7 Price Performance

Rapid7 stock traded down $0.06 during mid-day trading on Thursday, reaching $37.94. 2,348,030 shares of the company traded hands, compared to its average volume of 826,819. Rapid7 has a 52-week low of $35.22 and a 52-week high of $61.88. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01. The firm’s 50 day moving average price is $48.62 and its 200 day moving average price is $52.60.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.27. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. On average, sell-side analysts anticipate that Rapid7 will post 0.86 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on RPD. Truist Financial lowered their target price on Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a research note on Wednesday. Canaccord Genuity Group dropped their target price on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a report on Wednesday. UBS Group reduced 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. Stifel Nicolaus lowered their price target on shares of Rapid7 from $63.00 to $51.00 and set a buy rating for the company in a research report on Wednesday. Finally, Robert W. Baird cut their price objective on shares of Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 currently has a consensus rating of Hold and an average price target of $52.13.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was 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 approximately $13,665,206.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Andrew F. Burton sold 31,727 shares of the firm’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 sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the business’s 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 sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. 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.