Citi downgrades Rapid7 to Neutal on balanced risk/reward

Citi analyst Fatima Boolani downgraded Rapid7 (RPD) to Neutral from Buy with a price target of $15, down from $25. The firm cites the stock’s risk/reward as balanced at current levels. Rapid7 is likely to post low-single-digit sales growth with “muted” earnings upside amid a challenging competitive environment, the analyst tells investors in a research note. Citi sees Rapid7’s activist presence as a partial offset.