Analysts Trim Rubrik Targets Despite Strong Quarter as KeyBanc Sets $95

Overview

• KeyBanc’s Eric Heath lowered Rubrik’s price target to $95 from $113 on January 12 while keeping an Overweight rating, citing tighter peer multiples, rising competitive concerns, and caution on enterprise security budgets.
• Barclays and Piper Sandler cut targets on January 5 to $100 and $99 respectively, both maintaining Overweight stances as they reassessed valuation in line with sector moves.
• Piper Sandler reduced its valuation multiple to 11x from 13x after Rubrik’s 10‑Q and year‑over‑year comparisons, yet reaffirmed the company as a top pick supported by roughly 48% revenue growth.
• Shares spiked from about $70 to the low $90s after a blowout quarter, then retraced to roughly $69, with Jim Cramer characterizing the pullback as an opportunity that discounts recent results.
• Stephens initiated coverage on December 29 with an Overweight rating and a $105 target, highlighting growth potential, expected margin expansion, and a unified data security platform spanning cloud, enterprise, and SaaS.