Rapid7 downgraded to Hold from Buy at Jefferies

Jefferies downgraded Rapid7 (RPD) to Hold from Buy with a price target of $19, down from $22. The firm agrees withRapid7’s prioritization of its “faster-growing” Managed Detection and Response business but says it has struggled to execute relative to its annual recurring revenue guidance. Rapid7’s go-to-market changes will take a few quarters to materialize, the analyst tells investors in a research note.