Rapid7 (NASDAQ:RPD) Releases Q2 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.50-0.53 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RPD. Piper Sandler cut their target price on shares of Rapid7 from $56.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their target price on Rapid7 from $60.00 to $52.00 and set a hold rating for the company in a research report on Wednesday. Truist Financial dropped their target price on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their price objective 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, Barclays decreased their target price on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating for the company in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $52.13.

Rapid7 Stock Down 17.0 %

Shares of RPD stock traded down $7.80 during trading hours on Wednesday, reaching $38.00. 9,293,338 shares of the stock traded hands, compared to its average volume of 809,718. Rapid7 has a 1-year low of $35.22 and a 1-year high of $61.88. The business has a fifty day moving average price of $49.41 and a 200 day moving average price of $52.81. The firm has a market capitalization of $2.37 billion, a PE ratio of -15.14 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings data 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 net margin of 19.19% and a negative return on equity of 1.36%. The firm had revenue of $205.27 million for the quarter, compared to the consensus estimate of $201.52 million. Research analysts expect that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction 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 directly 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 through this link. Also, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction 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 completion of 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. Insiders own 2.60% of the company’s stock.

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.