Jim Cramer recently mentioned Rubrik Inc. (NYSE:RBRK) among stocks he discussed. The data security company serves financial, education, healthcare, and other industries.
Rubrik's shares have declined 5.9% over the past year and 11% year-to-date. In January, analysts issued reports on the stock. KeyBanc reduced its price target to $95 from $113, maintaining an Overweight rating. The firm cited a valuation multiple contraction.
Piper Sandler also addressed valuation multiples, cutting its target to $99 from $118 while keeping an Overweight rating. Piper Sandler still listed Rubrik as a top pick.
Cramer has frequently praised the cybersecurity sector over the past year. He expressed optimism about Rubrik, stating, "Rubrik is one of the hottest tech companies in the world but the stock can’t lift. Why? Because it’s not, uh, well it’s not Western Digital."