Rapid7 (NASDAQ:RPD) Issues Q2 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.500-0.530 for the period, compared to the consensus earnings per share estimate of 0.520. The company issued revenue guidance of $203.0 million-$205.0 million, compared to the consensus revenue estimate of $209.6 million. Rapid7 also updated its FY 2024 guidance to 2.100-2.210 EPS.

Rapid7 Stock Down 0.2 %

RPD traded down $0.06 during trading on Thursday, reaching $37.94. 2,348,030 shares of the company were exchanged, compared to its average volume of 826,819. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88. The company’s 50-day moving average is $48.62 and its two-hundred day moving average is $52.60.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.27. The business 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 analysts forecast that Rapid7 will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RPD shares. Robert W. Baird cut their price objective on Rapid7 from $62.00 to $56.00 and set an outperform rating for the company in a report on Wednesday. UBS Group dropped their target price on Rapid7 from $70.00 to $65.00 and set a buy rating for the company in a report on Wednesday. Piper Sandler dropped their price objective on Rapid7 from $56.00 to $45.00 and set a neutral rating for the company in a research note on Wednesday. StockNews.com downgraded shares of Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. cut their price target 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. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $52.13.

Insider Transactions at Rapid7

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rapid7 news, COO Andrew F. Burton sold 31,727 shares of the firm’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 in the company, valued at approximately $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the company’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 transaction of $1,006,420.69. Following the completion of the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Rapid7 Company Profile

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.