# Rapid7, Inc. (RPD)

> Source: Nexqual · https://nexqual.com/RPD · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Rapid7, Inc. (RPD), nexqual.com/RPD" · informational, not investment advice.

**Price:** USD 17.08 (-3.39% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 17.68 · day 16.3–17.76 · 52w 4.97–18.82 · market cap $1.15B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $856M, net income $20.1M (2.4% margin), free cash flow $145M (SEC filings).
- Valuation: P/E 57.2x (avg 70.9x at the last 2 fiscal year-ends), EV/EBITDA 19.6x, net cash $407M.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $5K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.24 on a 1–5 scale) (25 analysts), mean target USD 12.17 (range 9–16).
- Total return with dividends: 1Y -3.1% vs S&P 500 +14.8%; 5Y -86.7% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.48, revenue estimate $209M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: RPD paid no cash dividend in the last five years.
- Short interest: 12.78% of float (as of 2026-10-15), 4.4 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $535M | $685M | $778M | $844M | $860M | $856M |
| Gross profit | $366M | $471M | $546M | $593M | $605M | — |
| Operating income | -$120M | -$112M | -$84.3M | $35.0M | $11.6M | $10.6M |
| Net income | -$146M | -$125M | -$153M | $25.5M | $23.4M | $20.1M |
| EPS (diluted) | -$2.65 | -$2.13 | -$2.52 | $0.40 | $0.36 | — |
| Free cash flow | $44.9M | $57.8M | $99.9M | $168M | $146M | $145M |
| Gross margin | 68.4% | 68.7% | 70.2% | 70.3% | 70.3% | — |
| Operating margin | -22.4% | -16.3% | -10.8% | 4.2% | 1.3% | 1.2% |
| Net margin | -27.3% | -18.2% | -19.6% | 3.0% | 2.7% | 2.4% |
| Revenue growth | +30.1% | +28.0% | +13.5% | +8.5% | +1.9% | — |
| Cash + short-term investments | $223M | $291M | $383M | $522M | $475M | — |
| Total debt | $812M | $816M | $930M | $888M | $892M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 57.2x · P/S 1.3x · EV/EBITDA 19.6x · EV/Sales 0.9x · P/FCF 7.9x · P/B 5.8x · FCF yield 12.58% · Earnings yield 1.75% · Net cash $407M · EV $745M
P/E at fiscal year-ends: Dec 2025 42.3x, Dec 2024 99.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-22 | Murphy Scott M | Chief Accounting Officer | 827 | $5K | 2% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.24 on a 1–5 scale), 25 analysts; mean target USD 12.17 (low 9, high 16).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Mizuho | Target raised | Neutral | $11 → $13 |
| 2026-09-15 | JP Morgan | Downgrade | Neutral → Underweight | $12 |
| 2026-08-12 | Susquehanna | Target raised | Neutral | $7 → $15 |
| 2026-08-12 | Canaccord Genuity | Target raised | Hold | $7 → $14 |
| 2026-08-11 | UBS | Target raised | Neutral | $7 → $12 |
| 2026-08-11 | Stifel | Target raised | Hold | $7 → $13 |
| 2026-08-11 | DA Davidson | Target raised | Underperform | $5.25 → $9 |
| 2026-08-11 | RBC Capital | Target raised | Sector Perform | $11 → $12 |
| 2026-08-11 | Scotiabank | Target raised | Sector Perform | $7 → $10.15 |
| 2026-08-11 | JP Morgan | Target raised | Neutral | $7 → $12 |
| 2026-08-11 | Barclays | Target raised | Underweight | $6.5 → $12 |
| 2026-08-11 | Piper Sandler | Target raised | Neutral | $8 → $12 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -3.1% | -86.7% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -3.1% | -33.2% |
| Volatility (annualized) | 84.6% | 62.4% |
| Max drawdown | -73.0% (Nov 2025→Apr 2026) | -96.3% (Nov 2021→Apr 2026) |

## Dividends
RPD paid no cash dividend in the last five years.

## Short interest
7,612,694 shares sold short, 12.78% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 7,720,792 shares (-1.4%). Days to cover: 4.4 (short shares ÷ average daily volume).

## Peers (Software - Infrastructure)
PAY (Paymentus Holdings, Inc.) USD 32.26 +2.02% · BLSH (Bullish) USD 28.47 -0.90% · CORZ (Core Scientific, Inc.) USD 14.43 -3.80% · RELY (Remitly Global, Inc.) USD 24.64 +1.52% · BB (BlackBerry Limited) USD 9.19 -2.23% · VRNS (Varonis Systems, Inc.) USD 48.82 -0.16%

## More
Full page: https://nexqual.com/RPD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RPD's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1560327/000156032726000008/rp-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | ServiceNow (NOW) | "Recent technology alliances that drive this experience include ServiceNow, Microsoft, AWS, GCP and Palo Alto Networks." |
| Partner | Microsoft (MSFT) | "Recent technology alliances that drive this experience include ServiceNow, Microsoft, AWS, GCP and Palo Alto Networks." |
| Partner | Amazon (AMZN) | "Recent technology alliances that drive this experience include ServiceNow, Microsoft, AWS, GCP and Palo Alto Networks." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product subscriptions | $205.1M | 97.2% | -1.5% |
| Professional services | $5.8M | 2.8% | -4.3% |
| Total revenue | $210.9M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $147.1M | 69.8% | -4.0% |
| Rest of world | $63.8M | 30.2% | +4.5% |
| Total revenue | $210.9M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Guidance for the third quarter 2026 and full-year 2026 does not include any potential impact of foreign exchange gains or losses."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.48 | $0.00 | +$0.48 | $209.3M | 24 |
| Next quarter (ends 2026-12-31) | $0.55 | $0.00 | +$0.55 | $209.4M | 24 |
| Current fiscal year (ends 2026-12-31) | $1.83 | $0.00 | +$1.83 | $839.2M | 24 |
| Next fiscal year (ends 2027-12-31) | $2.03 | $0.00 | +$2.03 | $843.0M | 24 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.44 | $0.35 | Beat +25.7% | — |
| — | Quarter ended Mar 31, 2026 | $0.36 | $0.30 | Beat +20.0% | — |
| — | Quarter ended Dec 31, 2025 | $0.44 | $0.42 | Beat +4.8% | — |
| — | Quarter ended Sep 30, 2025 | $0.57 | $0.46 | Beat +23.9% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-31 | 8-K | Director or executive officer change, or pay arrangement — “Director Resignations On August 27, Michael Burns, Benjamin Holzman, Thomas Schodorf and Reeny Sondhi notified the Board of Directors (the "Board") of Rapid7, Inc. (the "Company") of their respective decisions to resign from the Board and each committee of the Board on which they serve, in each case effective as of August 27, 2026. The resignations were not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. In connection with the resignations,…” | https://www.sec.gov/Archives/edgar/data/1560327/000156032726000046/0001560327-26-000046-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1560327/000156032726000044/0001560327-26-000044-index.htm |
| 2026-08-10 | 8-K | Quarterly results; Exit or restructuring costs (layoffs, closures) — “On August 7, 2026 , the board of directors of the Company approved a restructuring plan that is designed to simplify the Company's operations, align resources and investments with its core platform, and create capacity to reinvest in capabilities and solutions that improve the customer experience and strengthen the Company's competitive position (collectively, the " 2026 Restructuring Plan "). The 2026 Restructuring Plan includes a reduction of the Company's workforce by approximately 12%. The Company estimates…” | https://www.sec.gov/Archives/edgar/data/1560327/000156032726000043/0001560327-26-000043-index.htm |
| 2026-07-31 | Schedule 13G/A | Vanguard Portfolio Management: 6.6% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1560327/000210012126001005/0002100121-26-001005-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.