KeyBanc analyst Eric Heath reduced the firm's price target on Rubrik Inc. (NYSE:RBRK) to $95 from $113 on January 12, keeping an Overweight rating. The adjustment followed a slight contraction in peer valuation multiples, rising concerns over competitive pressure, and a more cautious outlook on enterprise security spending.
Earlier in the month, Barclays also lowered its price target on Rubrik to $100 from $120 on January 5, while maintaining an Overweight rating.
On the same day, Piper Sandler cut its price target for Rubrik to $99 from $118, also maintaining an Overweight rating. The firm revised its valuation multiple to 11x from 13x, citing year-over-year comparisons and minor estimate tweaks after Rubrik's 10-Q filing. Piper Sandler reaffirmed the stock as its top overall pick, noting continued confidence in the company's 48% year-over-year revenue growth and leadership in AI-driven cyber resilience.
Stephens analyst Todd Weller initiated coverage of Rubrik with an Overweight rating and a $105 price target on December 29. Weller highlighted the company's strong growth potential in data protection and security markets, noting that expected margin expansion should balance top-line gains. The firm described Rubrik's unified platform as a disruptive departure from traditional legacy architectures.
Rubrik Inc. provides data security solutions to individuals and businesses worldwide.