UPDATE: KeyBanc Starts Rapid7 (RPD) at Overweight

August 2, 2021 1:45 AM EDT
Get Alerts RPD Hot Sheet
Price: $118.79 -2.34%

Rating Summary:
    23 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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(Updated - August 2, 2021 4:44 AM EDT)

KeyBanc analyst Michael Turits initiates coverage on Rapid7 (NASDAQ: RPD) with a Overweight rating and a price target of $135.00.

The analyst comments "Initiating on Cloud-Based SecOps vendor Rapid7 at Overweight. We’re positive on Rapid7 as a cloud-based Security Operations (SecOps) platform providing vulnerability and threat detection, analytics, and response. Rapid7 targets the “resource-constrained” enterprise with highly usable, SaaS-based solutions. We see Rapid7 benefiting in 2021/2022 from the heightened breach environment, workloads shifting to cloud, and the “shift left” in security. Establishing $135 price target (+19% upside) based on 11.2x EV/CY23E revenues and 0.60 EVRG vs. the 20-30% growth group at 13.2x and 0.63 EVRG."

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 $113.75 yesterday.

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