DA Davidson lowered the firm’s price target on Rapid7 (RPD) to $14 from $16 and keeps an Underperform rating on the shares. The company missed on ARR – annual recurring revenue – for the 5th time over the last 7 quarters, with ARR of $837.7M vs. consensus of $841.2M, while the net-new ARR of marked the second sequential decline in ARR this year, the analyst tells investors in a research note.
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