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 (EPS) guidance of 2.100-2.210 for the period, compared to the consensus 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

RPD has been the topic of several research reports. Canaccord Genuity Group dropped their price objective on shares of Rapid7 from $60.00 to $52.00 and set a hold rating on the stock in a report on Wednesday. Robert W. Baird decreased their price objective on Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a report on Wednesday. Scotiabank initiated coverage on Rapid7 in a research note on Friday, April 26th. They issued a sector perform rating and a $46.00 target price for the company. Mizuho lowered their price target on shares of Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Truist Financial reduced their price objective on shares of Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Rapid7 currently has a consensus rating of Hold and a consensus target price of $52.13.

Rapid7 Stock Down 0.2 %

RPD stock traded down $0.06 during 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. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -15.12 and a beta of 1.01. The firm has a 50-day moving average price of $48.62 and a 200-day moving average price of $52.60. Rapid7 has a 12 month low of $35.22 and a 12 month high of $61.88.

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 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 return on equity of 1.36% and a negative net margin of 19.19%. Equities analysts expect that Rapid7 will post 0.86 EPS for the current year.

Insider Activity

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the company’s stock in a transaction 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 in the company, valued at approximately $11,541,261.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated 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 directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares in the company, valued at $13,665,206.58. 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.