Rubrik price target raised to $52 from $50 at CIBC

CIBC raised the firm’s price target on Rubrik to $52 from $50 and keeps an Outperformer rating on the shares following the Q2 report. The firm says margins for both subscription annual recurring revenue contribution and free cash flow were materially better than forecasts. While the pending share-lockup expiry on September 11 could cause some downward share price pressure, the earnings report and the “current robust cyber security spending environment confirm our positive Rubrik thesis,” the analyst tells investors in a research note. CIBC says the stock is attractive and should be purchased.