Rapid7 shares are trading higher after the company reported better-than-expected Q2 financial results and issued Q3 EPS and FY23 EPS guidance above estimates. Additionally, Morgan Stanley raised its price target from $48 to $52 on the stock.
Portfolio Pulse from Benzinga Newsdesk
Rapid7 reported better-than-expected Q2 financial results and issued Q3 EPS and FY23 EPS guidance above estimates. Morgan Stanley raised its price target from $48 to $52 on the stock, leading to a rise in Rapid7's share price.
August 09, 2023 | 2:37 pm
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Rapid7's stock is trading higher following better-than-expected Q2 results and positive future guidance. Morgan Stanley's increased price target also contributes to the stock's rise.
Rapid7's better-than-expected Q2 results and positive future EPS guidance indicate strong financial performance, which is a positive signal to investors. Additionally, Morgan Stanley's increased price target shows confidence in the company's future performance, further boosting investor sentiment and driving the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100