Rapid7 price target lowered to $45 from $46 at Scotiabank

Scotiabank lowered the firm’s price target on Rapid7 to $45 from $46 and keeps a Sector Perform rating on the shares. The company had a “choppy start” to the year, with annual recurring revenue soft in the quarter and 2024 guidance trimmed, the analyst tells investors. Rapid7 has a “fair amount” it needs to work through in 2024, but the firm believes these challenges may already be largely factored into the company’s stock price.