Morgan Stanley keeps an Equal Weight rating and $46 price target on Rapid7 after the company’s preliminary annual recurring revenue, or ARR, guidance for Q2. The outlook for ARR of $814M-$816M was in-line with the firm’s expectations, and while it was also better than feared, the management’s FY24 guide still implies significant uptick in the second half of the year, the analyst tells investors in a research note.
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