Noticias tecnológicas de EE.UU.

Rapid7 cae mientras BTIG dice que la valoración es "convincente" pero que "faltan" catalizadores

Rapid7 slips as BTIG says valuation is ‘compelling’ but catalysts are ‘lacking’

Rapid7 ( NASDAQ: RPD ) shares slipped on Friday as investment firm BTIG initiated coverage on the cybersecurity company, noting that its valuation is “compelling” but it has a lack of catalysts that could move the stock.

Analyst Gray Powell started Rapid7 ( RPD ) shares with a neutral rating, noting that Rapid7 is seeing as one of the top two companies in the vulnerability management space and has a number of products in tangential categories such as application security, cloud security and managed detection response that “generally received positive reviews.”

“As a result, we see a healthy market opportunity ahead of RPD over the next few years,” Powell wrote, but added that the growth in the company’s core vulnerability management market is slowing, a big negative as it accounts for roughly half of the company’s revenue.

Rapid7 ( RPD ) shares fell nearly 1% to $46.06 in early trading.

The analyst added that Rapid7 ( RPD ) has a “large and growing” total addressable market of $40B and its typical customer is now paying $62,000 a year, but that could grow to more than $500,000 per year.

However, Powell noted that there is increasing concern about competition in the Security Information & Event Management space, particularly from one of Rapid7’s ( RPD ) customers, which accounts for roughly 25% of revenue, which could result in the company missing Wall Street estimates over the next six to 12 months.

“While valuation at 4.6x 2023E EV/sales is compelling, our uncertainty over the direction of Street [estimates] drives our decisions to start RPD at a Neutral rating,” Powell added.

Last month, Rapid7 ( RPD ) issued its revenue outlook for 2022, significantly surpassing Wall Street estimates .

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Rapid7 slips as BTIG says valuation is ‘compelling’ but catalysts are ‘lacking’

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