Rubrik price target raised to $72 from $42 at Piper Sandler

Piper Sandler raised the firm’s price target on Rubrik (RBRK) to $72 from $42 and keeps an Overweight rating on the shares following Q3 earnings. The firm said that results and commentary were confirmation of its thesis. Piper added Rubrik is on-pace to exit the year with annual recurring revenue growing over 35% and cyber-resilience remains the number one priority.