Piper Sandler Upgrades Rapid7 (RPD) to Overweight
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Piper Sandler analyst Ron Owens upgraded Rapid7 (NASDAQ: RPD) from Neutral to Overweight with a price target of $100.00 (from $95.00).
The analyst comments "We are upgrading RPD to Overweight and increasing our 12-month price objective to $100. We believe that underlying momentum of the broader platform (beyond just VM) is likely to sustain into 2021, as both digital transformation and Sunburst support current strong fundamental tailwinds. We view the upcoming analyst day (March 10th) as a potential event catalyst, with further color around the breadth of the solution set as security transformation solutions now carry responsibility for the majority of ARR growth in the coming year. Given recent market weakness, we believe investors should be opportunistic."
Shares of Rapid7 closed at $81.31 yesterday.
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