Rubrik price target raised to $70 from $51 at Barclays

Barclays analyst Saket Kalia raised the firm’s price target on Rubrik (RBRK) to $70 from $51 and keeps an Overweight rating on the shares. The company reported better subscription annual recurring revenue, driven by stronger growth in cloud ARR, and importantly is driving more upside to ARR contribution which can reach breakeven next year, the analyst tells investors in a research note.