Rapid7 price target lowered to $21 from $25 at Barclays

Barclays lowered the firm’s price target on Rapid7 (RPD) to $21 from $25 and keeps an Equal Weight rating on the shares. The firm notes the company reported better net new ARR, coming in higher than its estimates into the quarter, driven by larger deals and continued strength in D&R. With that said, ARR guide is narrowing, and the midpoint is coming down off longer sales cycles, Barclays argues.