RBC downgrades Rapid7 to 'sector perform'

Rapid7

20/09/2024 11:47

** Brokerage RBC downgrades cybersecurity firm Rapid7
 RPD.O  to "sector perform" from "outperform" as it expects
intense competition in the IT security market 
    ** Areas such as cloud security and security information and
event management (SIEM), remain ultra-competitive - RBC
    ** Brokerage cuts PT to $40 from $50 
    ** 9 of 23 analysts rate the stock "buy" or higher, 14
"hold"; their median PT is $43.41- LSEG data
    ** As of last close, stock down nearly 40% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.Srivastava2@thomsonreuters.com;))