Rapid7 (NASDAQ:RPD) Releases FY24 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $2.10-2.21 for the period, compared to the consensus EPS 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.

Rapid7 Stock Performance

Rapid7 stock traded up $0.37 during midday trading on Friday, reaching $38.31. The stock had a trading volume of 336,076 shares, compared to its average volume of 821,017. Rapid7 has a 1-year low of $35.22 and a 1-year high of $61.88. The firm’s fifty day simple moving average is $48.62 and its 200-day simple moving average is $52.60. The stock has a market capitalization of $2.39 billion, a P/E ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last released its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. On average, sell-side analysts anticipate that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RPD shares. StockNews.com downgraded Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Truist Financial cut their price objective on Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a report on Wednesday. Scotiabank initiated coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 target price on the stock. Royal Bank of Canada cut their price target on shares of Rapid7 from $70.00 to $57.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Robert W. Baird reduced their price target on Rapid7 from $62.00 to $56.00 and set an outperform rating for the company in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rapid7 presently has a consensus rating of Hold and a consensus target price of $52.13.

Insider Activity

In other news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the firm’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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company 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.