Rapid7 (NASDAQ:RPD) Releases Q2 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.500-0.530 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of $203.0 million-$205.0 million, compared to the consensus revenue estimate of $209.6 million. Rapid7 also updated its FY 2024 guidance to 2.100-2.210 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RPD shares. UBS Group upgraded shares of Rapid7 from a neutral rating to a buy rating and increased their price target for the company from $53.00 to $70.00 in a report on Monday, January 29th. JPMorgan Chase & Co. reduced their target price on Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a report on Thursday, February 8th. Barclays increased their price objective on Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. StockNews.com lowered Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, Scotiabank started coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $55.56.

Rapid7 Stock Performance

RPD opened at $45.80 on Wednesday. The firm’s fifty day moving average is $49.41 and its 200 day moving average is $52.81. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -18.25 and a beta of 1.01. Rapid7 has a fifty-two week low of $39.49 and a fifty-two week high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its 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 return on equity of 1.36% and a negative net margin of 19.19%. The company had revenue of $205.27 million for the quarter, compared to the consensus estimate of $201.52 million. On average, equities research analysts predict that Rapid7 will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the 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 completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares in the company, valued at approximately $13,665,206.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew F. Burton sold 20,653 shares of the 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 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 company insiders.

About Rapid7

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.