Rubrik price target raised to $52 from $48 at Guggenheim

Guggenheim raised the firm’s price target on Rubrik (RBRK) to $52 from $48 and keeps a Buy rating on the shares. The firm is raising its price target due to less conservative assumptions, telling investors that it believes Rubrik is set up well to outperform consensus estimates for fiscal Q3 total revenue and subscription ARR, and raise full-year guidance for both metrics by at least the amount of the quarterly upside.