Mizuho Securities Starts Rapid7 (RPD) at Buy

Mizuho Securities analyst Gregg Moskowitz initiates coverage on Rapid7 (NASDAQ: RPD) with a Buy rating and a price target of $59.00.

The analyst comments "RPD's relatively new cloud-based Insight platform has fueled an acceleration in ARR growth, and we expect the company will continue growing at a healthy rate in CY19-20. Despite a large 85% gain in the shares over the past 12 months, RPD still trades at a reasonable 6x CY20E revenue multiple for a company expected to grow ARR >30%."

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 $50.37 yesterday.

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