Piper Sandler analyst James Fish lowered the firm’s price target on Rubrik (RBRK) to $84 from $94 on lower compares, while keeping an Overweight rating on the shares. Competitive displacements, increasing data growth, strong cross-sell of new products like identity and SaaS-apps, and AI-enablement / protection are driving durable hyper-growth that continues to outperform expectations, the firm says. Rubrik is one of the most aggressive go-to-market companies Piper has covered, with these investments paying off around share-gains, the firm adds.
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