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Fly News Breaks for May 23, 2019
RPD
May 23, 2019 | 06:39 EDT
Cowen analyst Nick Yako initiated Rapid7 with an Outperform rating and $63 price target, saying he thinks the company has "multiple" avenues of growth in the 2019-2024 timeframe given its strongproduct portfolio, as the demand for automation and cloud-based security solutions rises, two areas in which it excels. Looking ahead, Yako tells investors in a research note that he expects ARR/customer to grow nearly 2x from 2019 to 2024 as customers adopt multiple Insight Platform products and expand assets under coverage.
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