Rapid7 (NASDAQ:RPD) Issues FY 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.100-2.210 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Rapid7 from $56.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price target on Rapid7 from $70.00 to $57.00 and set an outperform rating on the stock in a research report on Wednesday. Citigroup decreased their price objective on Rapid7 from $65.00 to $52.00 and set a buy rating for the company in a research report on Wednesday. Robert W. Baird cut their price target on Rapid7 from $62.00 to $56.00 and set an outperform rating for the company in a research note on Wednesday. Finally, UBS Group lowered their price objective on shares of Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rapid7 has an average rating of Hold and a consensus price target of $52.13.

Rapid7 Stock Down 0.2 %

Shares of RPD traded down $0.06 during mid-day trading on Thursday, hitting $37.94. The company had a trading volume of 2,348,030 shares, compared to its average volume of 826,819. Rapid7 has a 1-year low of $35.22 and a 1-year high of $61.88. The business’s 50-day simple moving average is $48.62 and its 200-day simple moving average is $52.60. The stock has a market cap of $2.36 billion, a PE ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted 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. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. The firm had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. On average, sell-side analysts expect that Rapid7 will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 of the company’s stock, valued at approximately $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

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.