Rapid7 (NASDAQ:RPD) Releases Q2 Earnings Guidance

Rapid7 (NASDAQ:RPDGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(0.07)-$(0.03) for the period, compared to the consensus estimate of $0.03. The company issued revenue guidance of $163-$165 million, compared to the consensus revenue estimate of $163.59 million.Rapid7 also updated its FY22 guidance to $0.05-$0.16 EPS.

Several brokerages have recently issued reports on RPD. StockNews.com began coverage on shares of Rapid7 in a research note on Thursday, March 31st. They set a sell rating for the company. Morgan Stanley decreased their price target on shares of Rapid7 from $106.00 to $103.00 and set an equal weight rating for the company in a research report on Tuesday, January 18th. TheStreet cut shares of Rapid7 from a c- rating to a d+ rating in a research report on Friday, January 7th. 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 for the company. Finally, Mizuho decreased their price target on shares of Rapid7 from $135.00 to $110.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $127.44.

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

Rapid7 (NASDAQ:RPDGet Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $154.15 million. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) EPS. On average, research analysts expect that Rapid7 will post -2.15 EPS for the current fiscal year.

In related news, CEO Corey E. Thomas sold 50,000 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $100.00, for a total transaction of $5,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas E. Schodorf sold 260 shares of the stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $112.54, for a total transaction of $29,260.40. Following the sale, the director now owns 5,290 shares in the company, valued at approximately $595,336.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,968 shares of company stock worth $5,656,672. Company insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RPD. Captrust Financial Advisors grew its position in Rapid7 by 89.3% in 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. grew its position in Rapid7 by 214.7% in 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 grew its position in Rapid7 by 3.7% in 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 position in Rapid7 by 144.3% in the 4th quarter. Virtu Financial LLC now owns 6,830 shares of the technology company’s stock worth $804,000 after purchasing an additional 4,034 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in Rapid7 by 187.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 8,041 shares of the technology company’s stock worth $946,000 after purchasing an additional 5,241 shares during the last quarter. Hedge funds and other 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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