As previously reported, Baird analyst Jonathan Ruykhaver initiated Rapid7 with an Outperform rating and $58 price target, saying he commends management's ability to deliver a compelling product roadmap focused on creating value for customers by automating standard workflows and dispersing intelligence through the Insight Platform. Strategically, the analyst sees growing importance within security operations for VM and a significant market need for an easy to consume, cloud-delivered security information and event management, or SIEM, that addresses "resource constrained" security operations teams.