Rapid7 (NASDAQ:RPD) Releases Q2 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of brokerages have commented on RPD. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a report on Thursday, February 8th. Citigroup upgraded shares of Rapid7 from a neutral rating to a buy rating and boosted their price objective for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Royal Bank of Canada restated an outperform rating and issued a $70.00 target price on shares of Rapid7 in a research note on Thursday, February 8th. Barclays upped their price target on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Finally, Scotiabank began coverage on Rapid7 in a research report on Friday, April 26th. They issued a sector perform rating and a $46.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Rapid7 has a consensus rating of Hold and an average price target of $55.56.

Rapid7 Stock Performance

Shares of Rapid7 stock traded down $0.41 during trading on Tuesday, hitting $45.80. 631,497 shares of the company’s stock were exchanged, compared to its average volume of 711,666. Rapid7 has a 52-week low of $39.49 and a 52-week high of $61.88. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -18.41 and a beta of 1.01. The business has a 50-day simple moving average of $49.62 and a 200-day simple moving average of $52.84.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data 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. The business had revenue of $205.27 million during the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. On average, equities analysts anticipate that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Rapid7

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