Rubrik price target raised to $113 from $98 at KeyBanc

KeyBanc raised the firm’s price target on Rubrik (RBRK) to $113 from $98 and keeps an Overweight rating on the shares following a strong Q1 top- and bottom-line beat and meaningful FY26 guide above. The firm sees Rubrik’s strong results amid a challenging macro environment as indicative of the continued demand for next-gen backup and recovery solutions and supporting its view that the market is accelerating, driven by legacy displacements, an expanding number of addressable workloads, and more security functionality-all of which is being catalyzed by the large number of high-profile ransomware attacks.