Rubrik Inc. (RBRK) stock rose 5.4% following several developments. DA Davidson initiated coverage on Rubrik with a Buy rating and announced a price target of $65. Goldman Sachs lowered its price target for Rubrik but reiterated its Buy rating on the stock. Additionally, Rubrik announced the promotion of Jesse Green to Chief Revenue Officer, a position in which he will lead the company's global revenue organization. These announcements, including the new analyst coverage with a Buy rating, the maintained Buy rating from Goldman Sachs despite a lower target, and the executive promotion, occurred around the time of the stock's 5.4% increase.
Read full analysisRubrik Inc. (RBRK) stock rose 5.4% following several developments. DA Davidson initiated coverage on Rubrik with a Buy rating and announced a price target of $65. Goldman Sachs lowered its price target for Rubrik but reiterated its Buy rating on the stock. Additionally, Rubrik announced the promotion of Jesse Green to Chief Revenue Officer, a position in which he will lead the company's global revenue organization. These announcements, including the new analyst coverage with a Buy rating, the maintained Buy rating from Goldman Sachs despite a lower target, and the executive promotion, occurred around the time of the stock's 5.4% increase.
Rubrik is a cybersecurity and data protection company specializing in cloud data management and ransomware recovery, with subscription annual recurring revenue of $1.35 billion and Q3 revenue up 48% year-over-year. The stock has fallen roughly 40% from its early-January highs despite strong operating results, with three analysts — DA Davidson ($65), Goldman Sachs ($80), and Truist ($80) — now maintaining Buy ratings well above current levels, framing the recent selloff as a potential value opportunity.