Rapid7 (NASDAQ:RPD) Updates Q2 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RPD shares. StockNews.com downgraded Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Barclays cut their price target on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating for the company in a report on Wednesday. Citigroup lowered their price target on Rapid7 from $65.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their target price on Rapid7 from $70.00 to $57.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Scotiabank initiated coverage on shares of Rapid7 in a report on Friday, April 26th. They issued a sector perform rating and a $46.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $52.13.

Rapid7 Trading Down 0.3 %

Shares of RPD stock traded down $0.11 during trading hours on Thursday, hitting $37.89. The company’s stock had a trading volume of 1,906,111 shares, compared to its average volume of 820,988. Rapid7 has a twelve month low of $35.22 and a twelve month high of $61.88. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -15.14 and a beta of 1.01. The business has a fifty day moving average of $49.04 and a 200-day moving average of $52.71.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts expect that Rapid7 will post 0.86 EPS for the current fiscal year.

Insider Transactions at Rapid7

In other news, 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 transaction of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $48.73, for a total value of $1,006,420.69. Following the sale, the chief operating officer now directly 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 stock in a transaction 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 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. Corporate 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.