Rapid7 (RPD) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Oct 31, 2023 04:51AM ET
Updated Oct 31, 2023 08:01AM ET
Rapid7 (RPD) To Report Earnings Tomorrow: Here Is What To Expect
Cybersecurity software maker Rapid7 (NASDAQ:RPD) will be reporting earnings tomorrow afternoon. Here's what to expect.
Last quarter Rapid7 reported revenues of $190.4 million, up 13.7% year on year, beating analyst revenue expectations by 1.24%. It was a decent quarter for the company, with accelerating customer growth but full-year revenue guidance missing analysts' expectations. The company added 253 customers to a total of 11,287.
Is Rapid7 buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Rapid7's revenue to grow 12.1% year on year to $197.1 million, slowing down from the 25.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.16%.
Looking at Rapid7's peers in the cybersecurity segment, only Varonis has so far reported results, with revenues decreasing 0.81% year on year, missing analyst estimates by 2.53%.
Read the full analysis of Varonis's results on StockStory. Technology stocks have been hit hard on fears of higher interest rates and while some of the cybersecurity stocks have fared somewhat better, they have not been spared, with share price declining 8.09% over the last month. Rapid7 is down 4.95% during the same time, and is heading into the earnings with analyst price target of $52, compared to share price of $44.
The author has no position in any of the stocks mentioned.
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