Stifel lowered the firm’s price target on Rapid7 (RPD) to $9 from $18 and keeps a Hold rating on the shares. While the firm thinks Rapid7’s new CCO and CFO can help drive improvements in go to market along with guidance, respectively, it remains clear that Rapid7 remains a company in transition and the firm thinks progress will take time to play out.
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Read More on RPD:
- Rapid7 price target lowered to $10 from $16 at Piper Sandler
- Rapid7: Attractive Valuation but Revenue Contraction and Prolonged Transition Justify a Balanced Hold Rating
- Rapid7 price target lowered to $9 from $13 at Jefferies
- Cautious Neutral: Rapid7’s Modest Beat, Weaker ARR Outlook, and Strategic Transition Drive Hold Rating
- Rapid7 downgraded to Hold from Buy at Canaccord