Rapid7 (NASDAQ:RPD) Releases FY24 Earnings Guidance

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

Rapid7 Stock Up 1.0 %

RPD traded up $0.37 during trading on Friday, hitting $38.31. The company’s stock had a trading volume of 336,076 shares, compared to its average volume of 821,017. Rapid7 has a one year low of $35.22 and a one year high of $61.88. The firm has a market cap of $2.39 billion, a PE ratio of -15.12 and a beta of 1.01. The business’s 50 day simple moving average is $48.62 and its 200-day simple moving average is $52.60.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data 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. The firm had revenue of $205.27 million for the quarter, compared to analysts’ expectations of $201.52 million. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. Equities research analysts expect that Rapid7 will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RPD has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a hold rating on shares of Rapid7 in a research note on Friday. Stifel Nicolaus reduced their target price on shares of Rapid7 from $63.00 to $51.00 and set a buy rating for the company in a report on Wednesday. Truist Financial dropped their price target on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a research report on Thursday, February 8th. Finally, Barclays dropped their price objective on shares of Rapid7 from $60.00 to $49.00 and set an equal weight rating on the stock in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $52.13.

Insiders Place Their Bets

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 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 directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rapid7 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 value 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 approximately $11,541,261.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value 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 $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.