Rapid7 (NASDAQ:RPD) Issues Q2 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its second quarter earnings guidance on Tuesday morning. 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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RPD. Royal Bank of Canada decreased their target price on shares of Rapid7 from $70.00 to $57.00 and set an outperform rating on the stock in a research report on Wednesday. Truist Financial reduced their target price on shares of Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday. Canaccord Genuity Group cut their price target on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a report on Wednesday. Piper Sandler dropped their target price on Rapid7 from $56.00 to $45.00 and set a neutral rating for the company in a research report on Wednesday. Finally, Scotiabank assumed coverage on Rapid7 in a report on Friday, April 26th. They issued a sector perform rating and a $46.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $52.13.

Rapid7 Stock Performance

RPD stock traded down $0.11 during trading on Thursday, reaching $37.89. The company had a trading volume of 1,906,111 shares, compared to its average volume of 820,988. The firm has a 50-day simple moving average of $49.04 and a 200-day simple moving average of $52.71. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. Rapid7 has a twelve month low of $35.22 and a twelve month high of $61.88.

Rapid7 (NASDAQ:RPD) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Sell-side analysts expect that Rapid7 will post 0.86 earnings per share 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 on Monday, April 8th. The shares were sold at an average price of $48.73, for a total value of $1,006,420.69. Following the completion of the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 sale, 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. 2.60% of the stock is currently owned by corporate 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.