Rapid7 price target lowered to $25 from $26 at Barclays

Barclays analyst Saket Kalia lowered the firm’s price target on Rapid7 (RPD) to $25 from $26 and keeps an Equal Weight rating on the shares. The company reported net new annual recurring revenue which came in lower than estimates and indicates churn in the ARR base, the analyst tells investors in a research note. The firm says the miss was driven by slipped deals and slower upgrade cycles.