1031 ET - Rapid7's results can potentially improve following its agreement with activist investor Jana Partners, although an outright sale is unlikely, D.A. Davidson's Rudy Kessinger says in a research note. The cybersecurity company is appointing three new members to its board and says it has entered into a cooperation agreement with Jana in which the investor will support all of Rapid7's director nominees at its upcoming annual shareholder meeting. Jana holds a near 6% stake in Rapid7, and WSJ reported back in June that Jana was pushing Rapid7 to sell itself. Kessinger says a sale "is unlikely at current levels given the LSD growth outlook." The analyst adds that while Jana's influence may prove beneficial, he sees "significant growth/profitability profile improvement as unlikely near-term." Rapid7 surges 7.4%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
March 24, 2025 10:31 ET (14:31 GMT)
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