Rapid7 (RPD) PT Raised to $72 at Needham & Company; Sees 'Beat and Raise'

Needham & Company analyst Alex Henderson raised the price target on Rapid7 (NASDAQ: RPD) to $72.00 (from $60.00) while maintaining a Buy rating.

The analyst commented, "Rapid continues to execute. We expect a solid beat and raise. Their new product momentum, middle market success, and integration of the SIEM with their VM capabilities is getting excellent traction. Gartner’s recommendation of the Rapid offering also is providing a strong tail-wind. The comps are getting tougher but we think Rapid should be able to power through them. We are a Buyer into the Print."

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