Rapid7 price target lowered to $65 from $70 at UBS

UBS lowered the firm’s price target on Rapid7 to $65 from $70 and keeps a Buy rating on the shares. Rapid7 delivered disappointing Q1 results, and while operating margin exceeded expectations, the focus is around the lowered guidance for annual recurring revenue, churn challenges in the cloud security business and churn in legacy vulnerability management, the analyst tells investors in a research note.