Rapid7 price target lowered to $30 from $39 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Rapid7 (RPD) to $30 from $39 and keeps a Neutral rating on the shares as part of a Q1 preview for the large-cap software group. Checks in the quarter were solid as cybersecurity demand was healthy and generative artificial intelligence adoption improved, the analyst tells investors in a research note. However, the firm says public cloud and consumption data points were mixed. Mizuho expects Q2 revenue outlooks “to be very choppy” across the sector. It cut price targets to reflect the meaningful recent contraction in comp multiples along with a higher probability of a recession.