2024-06-11 12:37:10 ET
Summary
- RPD's revenue outlook has become weaker, as the company cut its full-year top line guidance to reflect challenges associated with the roll-out of its new integrated risk management offering.
- But Rapid7 has maintained its 2024 bottom line guidance which implies significant profit margin expansion this year, as it has profitability levers to pull like expense management.
- I revise my rating for RPD to a Hold in view of its mixed prospects.
Elevator Pitch
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Rapid7: Margin Improvement Potential Is Obscured By Weaker Revenue Outlook (Rating Downgrade)