Rosenblatt Starts Rapid7 (RPD) at Buy
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Rosenblatt initiates coverage on Rapid7 (NASDAQ: RPD) with a Buy rating and a price target of $23.00.
Analyst Marshall Senk commented, "We believe that Rapid7 is well positioned to exploit the shift in security spending away from traditional threat blocking towards intelligence leveraging data about threats, the network and users to both more rapidly respond to and remediate threats limiting damage. Gartner forecasts that spending for detection and response will shift from 20% of security in 2015 to 60% by 2020. RPD should sustain above market growth through this cycle; initiating with Buy and $23 PT."
Shares of Rapid7 closed at $18.62 yesterday.
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