Piper Sandler lowered the firm’s price target on Rapid7 (RPD) to $19 from $30 and keeps a Neutral rating on the shares. The firm notes Q3 brought modest downside to ARR expectations alongside a de-risked view to Q4 performance, together bringing growth expectations meaningfully lower. With a new CFO joining in December and internal changes being made by the new Chief Commercial Officer, Piper believes this guide down was largely out of prudence rather than being driven by a significant deterioration in demand vs. 90 days ago.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RPD:
- Rapid7 price target lowered to $14 from $16 at DA Davidson
- Rapid7 price target lowered to $20 from $22 at JPMorgan
- Rapid7: Overcoming Challenges with Strategic Leadership and Growth Opportunities
- Hold Rating for Rapid7 Amid ARR Shortfall and Operational Challenges
- Strategic Developments and Leadership Changes Position Rapid7 for Growth Amidst Challenges