Cowen Starts Rapid7 (RPD) at Outperform

Cowen initiates coverage on Rapid7 (NASDAQ: RPD) with a Outperform rating and a price target of $26.00, saying the company is poised for rapid growth in security.

Analyst Gregg Moskowitz commented, "We believe RPD is poised to capitalize on the burgeoning need for security analytics. We also cite an improved product portfolio and go-to-market strategy as catalysts for additional growth."

The firm estimates 2015-16 billings of $124m (+21%) and $153m (+24%), respectively, translating to revenue of $98m and $122m.

For an analyst ratings summary and ratings history on Rapid7 click here. For more ratings news on Rapid7 click here.

Shares of Rapid7 closed at $22.09 yesterday.

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