Rapid7 (NASDAQ:RPD) Updates 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RPD shares. StockNews.com downgraded shares of Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Citigroup cut their price objective on Rapid7 from $65.00 to $52.00 and set a buy rating on the stock in a report on Wednesday. Scotiabank started coverage on Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 target price for the company. UBS Group cut their price target on shares of Rapid7 from $70.00 to $65.00 and set a buy rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a research note on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $52.13.

Rapid7 Stock Down 0.2 %

Shares of RPD stock traded down $0.06 during mid-day trading on Thursday, hitting $37.94. 2,348,030 shares of the stock were exchanged, compared to its average volume of 826,819. Rapid7 has a 52-week low of $35.22 and a 52-week high of $61.88. The firm has a fifty day moving average of $48.62 and a 200 day moving average of $52.60. The company has a market cap of $2.36 billion, a PE ratio of -15.12 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.13 by $0.27. The company had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. Rapid7 had a negative return on equity of 1.36% and a negative net margin of 19.19%. Equities analysts predict that Rapid7 will post 0.86 EPS for the current year.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of the business’s 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 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 the SEC website. In other 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the business’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 value of $1,683,751.89. Following the sale, the chief operating officer now owns 257,494 shares of the company’s stock, 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.