Yes. When configuring a Performance Rankings report, you have the optional ability to set upper ("ceiling") and lower ("floor") thresholds for your selected ranking metric. For example, you could set a Page Views ceiling of "only show pages with fewer than 10,000 views" for your Top ranking, and a floor of "only show pages with more than 100 views" for your Bottom ranking. This helps surface the most statistically meaningful content for your specific account and date range. Thresholds are available for all ranking metrics except 'Published Date'.
