Rapid7 price target lowered to $29 from $35 at DA Davidson

DA Davidson lowered the firm’s price target on Rapid7 (RPD) to $29 from $35 and keeps a Neutral rating on the shares after the company announced a cooperation agreement with Jana Partners that also caps Jana’s ownership interest at 14.9%. The firm notes that while outside influence could prove beneficial to Rapid7’s near-term results, the firm continues to believe a sale is unlikely at current levels given the management’s low-single-digit growth outlook, the analyst tells investors in a research note.