Rapid7 (NASDAQ:RPD) Issues 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.

Analysts Set New Price Targets

RPD has been the subject of several recent research reports. Barclays boosted their price target on Rapid7 from $58.00 to $60.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and issued a $70.00 target price on shares of Rapid7 in a research report on Thursday, February 8th. UBS Group raised shares of Rapid7 from a neutral rating to a buy rating and lifted their price objective for the company from $53.00 to $70.00 in a research note on Monday, January 29th. Citigroup upgraded Rapid7 from a neutral rating to a buy rating and upped their target price for the stock from $54.00 to $65.00 in a research note on Tuesday, January 9th. Finally, Scotiabank assumed coverage on Rapid7 in a research note on Friday, April 26th. They issued a sector perform rating and a $46.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $55.56.

Rapid7 Trading Down 0.9 %

NASDAQ:RPD traded down $0.41 during mid-day trading on Tuesday, hitting $45.80. 631,497 shares of the company’s stock were exchanged, compared to its average volume of 711,666. Rapid7 has a fifty-two week low of $39.49 and a fifty-two week high of $61.88. The firm has a market capitalization of $2.85 billion, a P/E ratio of -18.25 and a beta of 1.01. The company has a 50 day simple moving average of $49.62 and a 200-day simple moving average of $52.84.

Rapid7 (NASDAQ:RPD) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping 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 company had revenue of $205.27 million for the quarter, compared to analyst estimates of $201.52 million. As a group, analysts expect that Rapid7 will post 0.86 earnings per share for the current year.

Insider Activity

In other news, COO Andrew F. Burton sold 20,653 shares of the 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 directly owns 236,841 shares in the company, valued at $11,541,261.93. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Andrew F. Burton sold 20,653 shares of the 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 transaction, the chief operating officer now directly owns 236,841 shares of the company’s stock, valued at $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 257,494 shares of the company’s stock, 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.