Rapid7 (NASDAQ:RPD) Issues FY22 Earnings Guidance

Rapid7 (NASDAQ:RPDGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided EPS guidance of $0.05-$0.16 for the period, compared to the consensus EPS estimate of $0.11. The company issued revenue guidance of $686-$692 million, compared to the consensus revenue estimate of $686.61 million.Rapid7 also updated its Q2 guidance to $(0.07)-$(0.03) EPS.

A number of analysts have commented on the stock. Piper Sandler lowered their target price on shares of Rapid7 from $140.00 to $120.00 in a report on Thursday. KeyCorp lifted their target price on shares of Rapid7 from $126.00 to $129.00 and gave the stock an overweight rating in a report on Thursday, February 10th. Morgan Stanley lowered their target price on shares of Rapid7 from $106.00 to $103.00 and set an equal weight rating for the company in a report on Tuesday, January 18th. The Goldman Sachs Group lowered shares of Rapid7 from a buy rating to a neutral rating and set a $130.00 target price for the company. in a report on Tuesday, April 12th. Finally, Citigroup assumed coverage on shares of Rapid7 in a research report on Monday, January 24th. They set a neutral rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $127.44.

RPD traded down $5.13 during trading on Friday, hitting $73.10. The company had a trading volume of 1,079,505 shares, compared to its average volume of 434,703. The company has a market capitalization of $4.26 billion, a PE ratio of -25.56 and a beta of 1.38. Rapid7 has a one year low of $71.17 and a one year high of $145.00. The firm’s 50-day moving average price is $104.85 and its 200 day moving average price is $110.04.

Rapid7 (NASDAQ:RPDGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The technology company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $157.00 million during the quarter, compared to the consensus estimate of $154.15 million. The company’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) earnings per share. Equities research analysts predict that Rapid7 will post -2.15 earnings per share for the current year.

In other Rapid7 news, COO Andrew F. Burton sold 5,498 shares of Rapid7 stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $110.00, for a total value of $604,780.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Corey E. Thomas sold 50,000 shares of Rapid7 stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $100.00, for a total transaction of $5,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 55,968 shares of company stock worth $5,656,672 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in shares of Rapid7 by 89.3% during the 3rd quarter. Captrust Financial Advisors now owns 318 shares of the technology company’s stock worth $36,000 after purchasing an additional 150 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Rapid7 by 214.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,416 shares of the technology company’s stock worth $167,000 after purchasing an additional 966 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Rapid7 by 3.7% during the 4th quarter. MML Investors Services LLC now owns 3,696 shares of the technology company’s stock worth $435,000 after purchasing an additional 132 shares during the last quarter. Virtu Financial LLC grew its stake in Rapid7 by 144.3% in the 4th quarter. Virtu Financial LLC now owns 6,830 shares of the technology company’s stock valued at $804,000 after buying an additional 4,034 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in Rapid7 by 187.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 8,041 shares of the technology company’s stock valued at $946,000 after buying an additional 5,241 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.

Rapid7 Company Profile (Get Rating)

Rapid7, Inc provides cyber security solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cyber security risk management programs. Its platform includes InsightIDR, an incident detection and response solution; InsightCloudSec, a solution that integrates posture management, workload protection, infrastructure entitlements management, infrastructure-as-code security, and Kubernetes protection; InsightVM, a vulnerability risk management solution that is designed to provide a way to collect vulnerability data, prioritize risk, and automate remediation; InsightAppSec, which provides application security testing that analyzes web applications for security vulnerabilities; and InsightConnect, a security orchestration and automation response solution that is used by security professionals.

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