Rubrik Stock (RBRK) Lower on Earnings Despite Price Target Hikes
Rubrik Inc. (NYSE:RBRK) is experiencing a downturn in pre-market trading, despite a couple of upside analyst moves, and a solid earnings print. The stock traded down 4.45% in pre-market before steadying to sit 0.5% down into the final period of the session, a somewhat unexpected reaction to otherwise positive financial indicators and strategic moves.
The dip comes in the wake of KeyBanc analyst Eric Heath raising the firm’s price target on Rubrik to $117 from $113, maintaining an Overweight rating. This adjustment was driven by a solid Q2 ARR beat of $27 million, although slightly below the $30 million-plus seen in prior quarters. KeyBanc also emphasized the significant beats in EBIT and free cash flow, exceeding expectations by…
