Rapid7 (NASDAQ:RPD) Updates Q2 2024 Earnings Guidance

Rapid7 (NASDAQ:RPD - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.500-0.530 for the period, compared to the consensus EPS 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 Stock Down 17.0 %

RPD traded down $7.80 on Wednesday, hitting $38.00. The company had a trading volume of 9,293,338 shares, compared to its average volume of 809,718. The company has a market cap of $2.37 billion, a PE ratio of -15.14 and a beta of 1.01. The business's fifty day simple moving average is $49.04 and its 200 day simple moving average is $52.71. Rapid7 has a 12-month low of $35.22 and a 12-month high of $61.88.

Rapid7 (NASDAQ:RPD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.40 EPS for the quarter, topping 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 analyst estimates of $201.52 million. On average, analysts anticipate that Rapid7 will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on RPD shares. Truist Financial dropped their target price on Rapid7 from $50.00 to $45.00 and set a hold rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Rapid7 from $61.00 to $60.00 and set a neutral rating for the company in a research report on Thursday, February 8th. Mizuho cut their price target on shares of Rapid7 from $62.00 to $47.00 and set a neutral rating on the stock in a report on Wednesday. Piper Sandler decreased their price objective on shares of Rapid7 from $56.00 to $45.00 and set a neutral rating for the company in a report on Wednesday. Finally, StockNews.com cut shares of Rapid7 from a buy rating to a hold rating in a research report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Rapid7 currently has a consensus rating of Hold and a consensus target price of $52.13.

Insider Buying and Selling

In other news, COO Andrew F. Burton sold 20,653 shares of Rapid7 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 of the company's stock, valued at approximately $11,541,261.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Andrew F. Burton sold 20,653 shares of the company'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 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 accessible through this hyperlink. Also, COO Andrew F. Burton sold 31,727 shares of the stock in a transaction that occurred 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 completion of the transaction, 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. 2.60% of the stock is currently owned by company insiders.

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.