Wall Street Boosts Rubrik Price Target After Upbeat Q1, Outlook: Retail Eyes Long-Term Gains

Wall Street analysts raised their price targets on data security firm Rubrik Inc. (RBRK) following a better-than-expected first-quarter (Q1) earnings and a cheery outlook.

Rubrik's Q1 revenue jumped 49% year-on-year (YoY) to $278.5 million, beating the consensus estimate of $260.41 million, as per Finchat data.

The adjusted loss per share (EPS) of $0.15 came in narrower than an estimated loss of $0.32. 

Wells Fargo increased its price target on Rubrik to $125 from $80 while maintaining an 'Overweight' rating. 

The firm said Rubrik is one of the fastest-growing names in its coverage and noted the company is nearing operating margin breakeven.

KeyBanc boosted its price target on Rubrik to $113 from $98 and reiterated its 'Overweight' rating after the company posted a strong Q1 performance, exceeding expectations on both revenue and earnings, along with an upbeat forecast for fiscal 2026. 

The firm views Rubrik's impressive showing, despite tough economic conditions, as a sign of sustained demand for modern backup and recovery technologies. 

KeyBanc believes the market is gaining momentum, fueled by the replacement of outdated systems, growing workload opportunities, and enhanced security capabilities, factors amplified by the recent surge in high-profile ransomware incidents.

Guggenheim lifted its price target on Rubrik to $108 from $105 and reaffirmed its 'Buy' rating. The brokerage noted that despite broader macroeconomic uncertainty, demand for cyber resiliency remains strong. 

Rubrik's total new annual recurring revenue (ARR) climbed 29%, while subscription ARR rose 27%. The company reported the gains despite tough YoY comparisons and outperformed most peers in the security space. 

Roth Capital increased its price target on Rubrik to $107 from $97 and maintained a 'Buy' rating. 

While revenue growth showed a modest uptick, Roth pointed out that it benefited from a seven-point boost tied to one-time, non-recurring revenue sources.

On Stocktwits, retail sentiment around Rubrik remained in 'extremely bullish' territory.

A bullish Stocktwits user stated that they plan to hold onto the stock for two to three years.

Rubrik stock has gained over 50% year-to-date and has nearly tripled in the last 12 months.

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