Rapid7 (NASDAQ:RPD) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

RPD has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an outperform rating and set a $70.00 price target on shares of Rapid7 in a report 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 note on Thursday, February 8th. Citigroup upgraded Rapid7 from a neutral rating to a buy rating and boosted their price objective for the company from $54.00 to $65.00 in a report on Tuesday, January 9th. StockNews.com lowered shares of Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $55.56.

Rapid7 Stock Down 0.9 %

NASDAQ RPD traded down $0.41 on Tuesday, reaching $45.80. The company had a trading volume of 631,635 shares, compared to its average volume of 713,313. The stock has a market capitalization of $2.85 billion, a PE ratio of -18.25 and a beta of 1.01. The firm’s 50 day moving average price is $49.62 and its 200 day moving average price is $52.84. Rapid7 has a 12 month low of $39.49 and a 12 month high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.27. The firm had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. On average, research analysts expect that Rapid7 will post 0.86 EPS for the current year.

Insider Buying and Selling at Rapid7

In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the 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 transaction, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now directly 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.

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.