Rapid7 (NASDAQ:RPD) Updates FY 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.100-2.210 for the period, compared to the consensus estimate of 2.170. The company issued revenue guidance of $830.0 million-$836.0 million, compared to the consensus revenue estimate of $853.1 million. Rapid7 also updated its Q2 2024 guidance to 0.500-0.530 EPS.

Rapid7 Trading Down 0.9 %

Rapid7 stock opened at $45.80 on Wednesday. The stock has a fifty day moving average price of $49.41 and a 200 day moving average price of $52.81. Rapid7 has a 52 week low of $39.49 and a 52 week high of $61.88. The firm has a market capitalization of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted 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 company had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. As a group, equities analysts predict that Rapid7 will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group raised shares of Rapid7 from a neutral rating to a buy rating and upped their price target for the stock from $53.00 to $70.00 in a research report on Monday, January 29th. Barclays increased their target price on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered their price target on Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an outperform rating and issued a $70.00 price objective on shares of Rapid7 in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $55.56.

Insider Activity at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. 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 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 completion of the transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at approximately $13,665,206.58. 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.