DA Davidson lowered the firm’s price target on Rapid7 to $32 from $42 and keeps a Neutral rating on the shares. The company reported “solid” Q2 results as annual recurring revenue topped consensus and net new logo adds flipped to 22% sequential growth from 64% decline in Q1, the analyst tells investors in a research note. The firm adds however that it still sees downside risk to second-half ARR expectations and continues to see growth reacceleration as unlikely near-term.
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