Rapid7 price target lowered to $39 from $41 at Scotiabank

Scotiabank lowered the firm’s price target on Rapid7 (RPD) to $39 from $41 and keeps a Sector Perform rating on the shares. The firm maintains its rating on the stock following a disappointing Q3 ARR growth, 2024 ARR guidance cut, and 2025 preliminary ARR outlook that came in below consensus, the analyst tells investors. While the company is a pioneering software company, there is a fair amount the company must work through, and the firm sees shares as fairly valued.