Rapid7 (NASDAQ:RPD) Updates FY24 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.15-2.20 for the period, compared to the consensus earnings per share estimate of $2.16. The company issued revenue guidance of $833-837 million, compared to the consensus revenue estimate of $833.15 million. Rapid7 also updated its Q3 guidance to $0.50-0.53 EPS.

Rapid7 Stock Performance

NASDAQ:RPD traded down $0.42 during mid-day trading on Tuesday, reaching $33.02. 1,686,843 shares of the company’s stock were exchanged, compared to its average volume of 920,710. Rapid7 has a one year low of $32.94 and a one year high of $61.88. The firm has a market capitalization of $2.06 billion, a PE ratio of -16.11 and a beta of 0.98. The business’s fifty day simple moving average is $38.78 and its two-hundred day simple moving average is $46.08.

Rapid7 (NASDAQ:RPD) last released its earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $204.10 million. As a group, equities research analysts forecast that Rapid7 will post 0.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RPD shares. JPMorgan Chase & Co. reduced their target price on shares of Rapid7 from $46.00 to $39.00 and set a neutral rating on the stock in a report on Friday. Truist Financial decreased their price objective on shares of Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a research report on Wednesday, May 8th. Citigroup decreased their price objective on shares of Rapid7 from $65.00 to $52.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Susquehanna decreased their price objective on shares of Rapid7 from $55.00 to $40.00 and set a neutral rating for the company in a research report on Monday, May 13th. Finally, Barclays decreased their price objective on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $49.00.

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.