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RPD.US
On November 2, 2022, Rapid7 (RPD) reported financial results and cut its revenue outlook as a planned transition in the responsibilities of its salesforce is taking longer than expected.

The Company slashed its 2022's revenue guidance to a range of $711-$717 million, down from a prior outlook set at between $740-$750 million.

On this news, RPD shares declined 22.73%, losing over $0.5 billion of its market capitalization.

CEO Corey Thomas told analysts, among other things, that the ongoing transition from fragmented sales teams focused on selling single products to a more unified salesforce is taking longer than expected.

Taking previous representations into account, investors have reason to suspect that the Leaders of Rapid7 provided information not in a prudent way, misleading the Company's shareholders.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 November 2022
Collecting participants…
Created by Stan Vick, Scout

Rapid7 Inc

Rapid7, Inc. provides cybersecurity solutions. The company offers a cloud-native insight platform that enables customers to create and manage analytics-driven cybersecurity risk management programs...

    Ticker
    RPD.US
    ISIN
    US7534221046
    CIK
    1560327
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    120 Causeway Street, Boston, MA, United States, 02114