Rubrik price target lowered to $70 from $105 at BMO Capital

BMO Capital analyst Keith Bachman lowered the firm’s price target on Rubrik (RBRK) to $70 from $105 and keeps an Outperform rating on the shares after its Q4 results. The company reported upside to key metrics and issued 2027 annual recurring revenue guidance that was better than consensus estimates, the analyst tells investors in a research note. BMO adds that it is encouraged by Rubrik’s expanding traction in identity security and believes the company has an intriguing opportunity with its agent cloud offering, however the firm is reducing its price target due to compression in software multiples.