Rapid7 (NASDAQ:RPD) Updates Q2 Earnings Guidance

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

Rapid7 Stock Down 0.9 %

Rapid7 stock traded down $0.41 during mid-day trading on Tuesday, reaching $45.80. 631,635 shares of the company’s stock traded hands, compared to its average volume of 713,313. Rapid7 has a 12-month low of $39.49 and a 12-month high of $61.88. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -18.25 and a beta of 1.01. The stock has a 50 day moving average of $49.62 and a two-hundred day moving average of $52.84.

Rapid7 (NASDAQ:RPD) last announced its earnings results 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. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The business had revenue of $205.27 million during the quarter, compared to analyst estimates of $201.52 million. As a group, sell-side analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

RPD has been the topic of several recent research reports. Citigroup upgraded shares of Rapid7 from a neutral rating to a buy rating and increased their target price for the stock from $54.00 to $65.00 in a report on Tuesday, January 9th. Barclays upped their target price on Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. Scotiabank assumed coverage on Rapid7 in a report on Friday, April 26th. They issued a sector perform rating and a $46.00 price target on the stock. Royal Bank of Canada restated an outperform rating and set a $70.00 price objective on shares of Rapid7 in a research note on Thursday, February 8th. Finally, UBS Group raised Rapid7 from a neutral rating to a buy rating and raised their price objective for the company from $53.00 to $70.00 in a research report on Monday, January 29th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $55.56.

Insider Transactions at Rapid7

In related news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction that occurred 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 $11,541,261.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of Rapid7 stock in a transaction dated Monday, April 8th. The shares were 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 directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the business’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 transaction, the chief operating officer now owns 257,494 shares in the company, valued at $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.