Rubrik in focus as Wedbush ups price target on continued execution

• Rubrik (RBRK) was in focus on Monday as Wedbush Securities upped its price target on the cybersecurity firm to $150 from $120, citing continued execution.
• Shares rose fractionally in premarket trading.
• “Our recent checks suggest Rubrik is the strongest standalone resilience platform, winning on technology and breadth across data, identity, and AI agents, while using targeted discounting to accelerate share gains,” analyst Steven Wahrhaftig wrote in a note to clients. “RBRK’s valuation has expanded aggressively this year, with EV/FY29E FCF rising from ~14x at the March low to ~38x today, but we believe the re-rating is backed by fundamentals around sustainable growth in the mid-20s through FY29 while margins and cash flow are steadily improving. Our FY29E FCF sits ~12% above consensus of $610 million, and RBRK has beaten its initial full-year FCF guide in every year since its IPO. The key risk to our view is that renewed discounting shows up as margin compression when RBRK reports FY3Q27.”

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