DA Davidson analyst Rudy Kessinger raised the firm's price target on Rapid7 to $6.50 from $5.25 and keeps an Underperform rating on the shares after the company announced that CEO Corey Thomas will be transitioning to Executive Chairman and that Wael Mohamed will be assuming the role of CEO, effective immediately. Mohamed is one of the board members nominated by activist investor Jana Partners as part of the cooperation agreement entered into in March of last year, the analyst tells investors in a research note. The firm added it continues to see negative annual run rate growth as likely for the foreseeable future given declines in the VM portion of the business.
