Rapid7 (NASDAQ:RPD) Releases Q2 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.500-0.530 for the period, compared to the consensus 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 Trading Down 0.2 %

RPD traded down $0.06 during trading on Thursday, hitting $37.94. 2,348,030 shares of the company’s stock were exchanged, compared to its average volume of 826,819. The firm has a market cap of $2.36 billion, a P/E ratio of -15.12 and a beta of 1.01. Rapid7 has a 1 year low of $35.22 and a 1 year high of $61.88. The stock has a 50 day moving average price of $48.62 and a 200 day moving average price of $52.60.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings data 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. Rapid7 had a negative net margin of 19.19% and a negative return on equity of 1.36%. The company had revenue of $205.27 million during the quarter, compared to the consensus estimate of $201.52 million. Analysts forecast that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada cut their price objective on shares of Rapid7 from $70.00 to $57.00 and set an outperform rating on the stock in a report on Wednesday. Citigroup reduced their price target on Rapid7 from $65.00 to $52.00 and set a buy rating for the company in a report on Wednesday. Truist Financial dropped their price objective on Rapid7 from $50.00 to $45.00 and set a hold rating on the stock in a report on Wednesday. Scotiabank assumed coverage on Rapid7 in a research report on Friday, April 26th. They issued a sector perform rating and a $46.00 target price on the stock. Finally, UBS Group decreased their price target on shares of Rapid7 from $70.00 to $65.00 and set a buy rating for the company in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Rapid7 has an average rating of Hold and a consensus price target of $52.13.

Insider Activity

In other Rapid7 news, COO Andrew F. Burton sold 20,653 shares of the firm’s stock in a transaction dated 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 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. In related news, COO Andrew F. Burton sold 31,727 shares of Rapid7 stock in a transaction dated 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 sale, the chief operating officer now directly owns 257,494 shares in the company, valued at approximately $13,665,206.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The disclosure for this sale can be found here. Company 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.