Jefferies Starts Rapid7 (RPD) at Buy

Jefferies analyst Joseph Gallo initiates coverage on Rapid7 (NASDAQ: RPD) with a Buy rating and a price target of $50.00.

The analyst comments: "We see RPD as having the broadest and most established platform outside of core vuln mgmt (vuln < 50% of business). Traction with SIEM & cloud is critical in an environment where vuln mgmt is seeing lower demand (cyclical) & macro pressures. We see upside from improved execution with GTM changes & focus on the channel (seen in our survey) all while the business trades at less than our implied base value. We project a 3-yr rev CAGR of 7.9% ('23-'26)."

For an analyst ratings summary and ratings history on Rapid7 click here. For more ratings news on Rapid7 click here.

Shares of Rapid7 closed at $40.28 yesterday.

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