Rapid7 (NASDAQ:RPD) Releases Q2 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.50-0.53 for the period, compared to the consensus EPS estimate of $0.51. The company issued revenue guidance of $203-205 million, compared to the consensus revenue estimate of $209.42 million. Rapid7 also updated its FY24 guidance to $2.10-2.21 EPS.

Analyst Ratings Changes

Several research firms recently weighed in on RPD. JPMorgan Chase & Co. cut their price objective on Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Barclays lifted their target price on shares of Rapid7 from $58.00 to $60.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Citigroup upgraded shares of Rapid7 from a neutral rating to a buy rating and upped their price target for the company from $54.00 to $65.00 in a research report on Tuesday, January 9th. Scotiabank initiated coverage on shares of Rapid7 in a report on Friday, April 26th. They set a sector perform rating and a $46.00 price target on the stock. Finally, Royal Bank of Canada restated an outperform rating and issued a $70.00 price objective on shares of Rapid7 in a report on Thursday, February 8th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $55.56.

Rapid7 Price Performance

NASDAQ:RPD traded down $0.41 on Tuesday, reaching $45.80. 631,497 shares of the company’s stock were exchanged, compared to its average volume of 711,666. The stock has a fifty day simple moving average of $49.62 and a 200-day simple moving average of $52.84. Rapid7 has a 52 week low of $39.49 and a 52 week high of $61.88. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -18.41 and a beta of 1.01.

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

Insider Buying and Selling

In other news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated Wednesday, March 13th. The stock was 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 approximately $13,665,206.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 value of $1,006,420.69. Following the transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction 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 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. 2.60% of the stock is owned by company insiders.

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.