Rapid7 (NASDAQ:RPD) Updates FY24 Earnings Guidance

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

NASDAQ RPD traded down $0.11 during trading on Thursday, hitting $37.89. 1,906,111 shares of the company’s stock traded hands, compared to its average volume of 820,988. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88. The stock has a fifty day moving average of $49.04 and a two-hundred day moving average of $52.71. The firm has a market cap of $2.36 billion, a P/E ratio of -15.14 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.13 by $0.27. The business had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. As a group, analysts expect that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RPD. Barclays dropped their price target on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their target price on shares of Rapid7 from $60.00 to $52.00 and set a hold rating for the company in a research note on Wednesday. Citigroup dropped their price objective on shares of Rapid7 from $65.00 to $52.00 and set a buy rating on the stock in a report on Wednesday. Mizuho lowered their price objective on Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Truist Financial decreased their price target on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $52.13.

Insider Activity

In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 of the company’s stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the company’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 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. Insiders own 2.60% of the company’s stock.

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.