Rubrik price target raised to $72 from $38 at BMO Capital

BMO Capital raised the firm’s price target on Rubrik (RBRK) to $72 from $38 and keeps an Outperform rating on the shares. The company reported an impressive October quarter against a broader backdrop of mixed software results, topping the firm’s annual recurring revenue growth estimate by about four points, the analyst tells investors in a research note. Rubrik’s organic demand remains strong as the management is raising all FY25 guide metrics, with most increasing by more than the beat in the just-reported quarter, the firm added.