Rosenblatt Securities increased its price target for Rubrik Inc to $105 from $95, maintaining a Buy rating as demand for cyber resilience solutions strengthens the data protection specialist’s growth outlook.
The adjustment follows Rubrik’s fiscal first-quarter results, which exceeded guidance by 5.8% and delivered 45.73% year-over-year revenue growth. The company’s annual recurring revenue rose 32% in the quarter, while gross profit margin reached 80.58%. Rosenblatt projects Q2 revenue of at least $397 million, a 28% increase from the prior year, with subscription revenue expected to grow 29%.
Rubrik is scheduled to release its second-quarter earnings for the fiscal year ending July 31 after U.S. markets close on Wednesday. The company’s portfolio includes Data Protection, Identity Resilience, and Rubrik Agent Cloud, with demand driven by backup, recovery, and cyber resilience needs.
Multiple analysts have revised earnings estimates upward, with InvestingPro tracking 18 upward revisions. The consensus among 18 firms tracked by InvestingPro stands at a Strong Buy rating of 1.11, reflecting broad confidence in the stock’s prospects.
Other firms have also raised targets: Guggenheim and Cantor Fitzgerald set their targets at $120, Oppenheimer at $120, Scotiabank at $114, and Goldman Sachs at $106, all maintaining Buy ratings. Rubrik last traded at $92.65, up from $92.17 in after-hours trading.
