RBC Capital lowered the firm’s price target on Rapid7 (RPD) to $23 from $27 and keeps a Sector Perform rating on the shares. The company delivered in-line annual recurring revenue while revenue, profitability and free cash flow were all ahead of expectations, the analyst tells investors in a research note. The spending environment also remains under pressure and in response, the management lowered FY25 midpoint ARR slightly, RBC added.
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Read More on RPD:
- Rapid7 price target raised to $34 from $30 at UBS
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