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

Stifel lowered the firm’s price target on Rapid7 (RPD) to $29 from $38 and keeps a Hold rating on the shares. Consistent with the firm’s softer checks, Rapid7 delivered a “mixed” Q1 print, the analyst tells investors. While acknowledging an “undemanding multiple,” the firm thinks progress will take time to play out and remains cautious on the broader vulnerability management market, the analyst tells investors.