Aug. 25 at 1:16 PM
$RBRK Rubrik price target raised to
$120 from
$90 at Wells Fargo
Wells Fargo raised the firm's price target on Rubrik to
$120 from
$90 and keeps an Overweight rating on the shares. The firm adjusted targets in the smid-cap software space as part of a Q2 earnings preview. Wells remains constructive on infrastructure software-as-a-service and favors Snowflake into earnings. However, the firm is "broadly more cautious" on the off-cycle earnings reporters citing tougher compares and elevated investor expectations. Recently improved software-as-a-service share performance and higher rates have "raised the bar for investors to hold names without an immediate catalyst," leaving Wells more cautious about post-earnings stock reactions, the analyst tells investors in a research note.
