Rapid7 price target lowered to $30 from $40 at Raymond James

Raymond James analyst Adam Tindle lowered the firm’s price target on Rapid7 (RPD) to $30 from $40 and keeps an Outperform rating on the shares. Rapid7’s Q2 results were solid on most traditional metrics, though net new annual recurring revenue is essentially zero through the first half of 2025, the analyst tells investors in a research note. Expectations remain low, though investing in the higher growth (M)D&R business could aid valuation, the firm says.