Rapid7 downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Saket Kalia downgraded Rapid7 to Equal Weight from Overweight with a price target of $37, down from $40. The company’s sales force changes "make this a name in transition" while the macro backdrop is more uncertain, Kalia tells investors in a research note. Additionally, while the stock is finding support on fiscal 2024 free cash flow, expanding free cash flow margins year will be a "show-me" story, says the analyst.