FTNT - Rapid7 Splunk could benefit from security demand after SolarWinds hack says Raymond James

The SolarWinds breach will serve as a catalyst for cybersecurity demand, says Raymond James analyst Adam Tindle.Tindle says Rapid7 (RPD)  "has the strongest value proposition across key technology beneficiaries," and the analyst day in H1 2021 will serve as another positive catalyst. He maintains an Outperform rating and $72 price target on the stock.Ping Identity Holding (PING) is "an underappreciated story in a very relevant sector" that will see "incremental benefit" from a tech refresh, says Tindle, sticking with a Strong Buy rating and $40 price target.The SolarWinds hack will further highlight Splunk's (SPLK) capabilities and "help data ingestion volumes in the near-to-medium term and may help reduce enterprise sales cycles."Fortinet's (FTNT) position seems "underappreciated" headingn into 2021, says the analyst.Splunk is reiterated at Outperform and $195 and Fortinet at Overweight and $155.The mentioned stocks are all down slightly as the last trading day of the year kicks off.Background: A flaw in IT management software

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Rapid7, Splunk could benefit from security demand after SolarWinds hack, says Raymond James