Rapid7 price target lowered to $29 from $38 at Scotiabank

Scotiabank lowered the firm’s price target on Rapid7 (RPD) to $29 from $38 and keeps a Sector Perform rating on the shares. The firm is maintaining its rating on the stock after some progress but notes there are still challenges the company is working through, the analyst tells investors. The company is “truly a pioneering security company,” but the firm would like to see evidence of stabilization before getting more positive on shares.