Rapid7 (NASDAQ:RPD) Issues FY 2022 Earnings Guidance

Rapid7 (NASDAQ:RPDGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.05-$0.16 for the period, compared to the consensus estimate of $0.12. The company issued revenue guidance of $686.00 million-$692.00 million, compared to the consensus revenue estimate of $683.81 million.

Shares of RPD opened at $66.70 on Wednesday. The stock’s 50-day simple moving average is $103.29 and its 200 day simple moving average is $109.11. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -23.32 and a beta of 1.38. Rapid7 has a 52-week low of $64.30 and a 52-week high of $145.00.

Rapid7 (NASDAQ:RPDGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $154.15 million. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period last year, the company posted ($0.42) EPS. As a group, research analysts predict that Rapid7 will post -2.15 earnings per share for the current year.

A number of analysts recently issued reports on RPD shares. KeyCorp increased their price objective on Rapid7 from $126.00 to $129.00 and gave the stock an overweight rating in a report on Thursday, February 10th. StockNews.com began coverage on Rapid7 in a report on Thursday, March 31st. They set a sell rating on the stock. Royal Bank of Canada raised their price target on Rapid7 from $130.00 to $140.00 in a report on Thursday, February 10th. Wolfe Research began coverage on Rapid7 in a report on Monday, April 11th. They issued an outperform rating and a $122.00 price target on the stock. Finally, Barclays raised their price target on Rapid7 from $120.00 to $122.00 and gave the company an overweight rating in a report on Thursday, February 10th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $126.50.

In other news, COO Andrew F. Burton sold 5,498 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $110.00, for a total transaction of $604,780.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas E. Schodorf sold 260 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $112.54, for a total value of $29,260.40. Following the transaction, the director now directly owns 5,290 shares in the company, valued at $595,336.60. The disclosure for this sale can be found here. Insiders sold a total of 55,968 shares of company stock valued at $5,656,672 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Rapid7 by 13.8% during the fourth quarter. BlackRock Inc. now owns 4,690,116 shares of the technology company’s stock valued at $551,978,000 after buying an additional 570,372 shares during the period. Vident Investment Advisory LLC increased its stake in shares of Rapid7 by 8.8% during the fourth quarter. Vident Investment Advisory LLC now owns 9,507 shares of the technology company’s stock valued at $1,119,000 after buying an additional 770 shares during the period. Virtu Financial LLC increased its stake in shares of Rapid7 by 144.3% during the fourth 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 period. Allianz Asset Management GmbH increased its stake in shares of Rapid7 by 7.5% during the fourth quarter. Allianz Asset Management GmbH now owns 553,183 shares of the technology company’s stock valued at $65,104,000 after buying an additional 38,487 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Rapid7 by 3.4% during the fourth quarter. California State Teachers Retirement System now owns 75,409 shares of the technology company’s stock valued at $8,875,000 after buying an additional 2,514 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

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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