Rapid7 (NASDAQ:RPD) Updates Q2 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD) updated its second quarter 2024 earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

RPD has been the subject of several recent research reports. StockNews.com downgraded shares of Rapid7 from a buy rating to a hold rating in a research note on Wednesday, March 6th. Piper Sandler lowered their target price on Rapid7 from $56.00 to $45.00 and set a neutral rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on Rapid7 from $61.00 to $60.00 and set a neutral rating on the stock in a report on Thursday, February 8th. Mizuho decreased their price target on Rapid7 from $62.00 to $47.00 and set a neutral rating for the company in a report on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Rapid7 from $62.00 to $56.00 and set an outperform rating on the stock in a research note on Wednesday. Ten investment 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 currently has a consensus rating of Hold and an average price target of $52.13.

Rapid7 Stock Performance

RPD traded down $0.06 on Thursday, hitting $37.94. 2,348,030 shares of the company were exchanged, compared to its average volume of 826,819. Rapid7 has a fifty-two week low of $35.22 and a fifty-two week high of $61.88. The firm has a market capitalization of $2.36 billion, a P/E ratio of -15.12 and a beta of 1.01. The business’s fifty day moving average is $48.62 and its 200 day moving average is $52.60.

Rapid7 (NASDAQ:RPD) last posted its earnings results on Wednesday, February 7th. The technology company reported $0.40 earnings per share 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 firm 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 EPS for the current fiscal year.

Insider Buying and Selling at Rapid7

In other news, COO Andrew F. Burton sold 31,727 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Andrew F. Burton sold 31,727 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 257,494 shares in the company, valued at $13,665,206.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew F. Burton sold 20,653 shares of the 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 transaction, the chief operating officer now owns 236,841 shares in the company, valued at $11,541,261.93. The disclosure for this sale can be found here. 2.60% of the stock is owned by 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.