KeyBanc Adjusts Rubrik (RBRK) PT to $95 Citing Valuation Multiples and Enterprise Spending Caution

Core Viewpoint - Rubrik Inc. is identified as an overlooked growth stock, with recent price target adjustments from multiple analysts reflecting concerns over valuation multiples and enterprise security spending [1][3][4]. Group 1: Analyst Price Target Adjustments - KeyBanc analyst Eric Heath lowered Rubrik's price target to $95 from $113 while maintaining an Overweight rating, citing a contraction in peer valuation multiples and rising competitive pressures [1]. - Barclays also reduced its price target for Rubrik to $100 from $120, keeping an Overweight rating [2]. - Piper Sandler adjusted its price target to $99 from $118, maintaining an Overweight rating, and revised its valuation multiple to 11x from 13x, highlighting a 48% year-over-year revenue growth [3]. Group 2: Growth Potential and Market Position - Stephens analyst Todd Weller initiated coverage of Rubrik with an Overweight rating and a price target of $105, emphasizing the company's strong growth potential in data protection and security markets [4]. - Rubrik's expected margin expansion is anticipated to balance its top-line gains, and its unified platform is seen as a disruptive innovation compared to traditional legacy architectures [4]. Group 3: Company Overview - Rubrik Inc. provides data security solutions to individuals and businesses globally, positioning itself in a competitive market [5].