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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com downgraded Rapid7 from a buy rating to a hold rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a research note on Thursday, February 8th. Citigroup raised shares of Rapid7 from a neutral rating to a buy rating and raised their target price for the company from $54.00 to $65.00 in a research note on Tuesday, January 9th. Royal Bank of Canada restated an outperform rating and issued a $70.00 price target on shares of Rapid7 in a research note on Thursday, February 8th. Finally, UBS Group raised Rapid7 from a neutral rating to a buy rating and boosted their target price for the stock from $53.00 to $70.00 in a report on Monday, January 29th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $55.56.

Rapid7 Stock Performance

Shares of Rapid7 stock traded down $0.41 on Tuesday, hitting $45.80. The company’s stock had a trading volume of 631,497 shares, compared to its average volume of 711,666. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -18.25 and a beta of 1.01. Rapid7 has a 1 year low of $39.49 and a 1 year high of $61.88. The firm has a fifty day moving average price of $49.62 and a 200-day moving average price of $52.84.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.27. The firm had revenue of $205.27 million for 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%. As a group, analysts forecast that Rapid7 will post 0.86 EPS for the current year.

Insider Activity at Rapid7

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 transaction of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction 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 approximately $13,665,206.58. The disclosure for this sale can be found here. Company 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.