Canaccord lowered the firm’s price target on Rapid7 (RPD) to $27 from $32 and keeps a Buy rating on the shares. The firm said they exited Q3 still defined by contrast with the solid momentum in Detection & Response offset by the lingering drag of the legacy VM business. While profit performed admirably in the quarter with meaningful upside on operating income and EPS, ARR came in below consensus expectations and ultimately led the company to again lower the FY25 ARR guide.
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Read More on RPD:
- Rapid7 price target lowered to $14 from $16 at DA Davidson
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