Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on RBRK stock, giving a Buy rating on July 9.
Shrenik Kothari has given his Buy rating due to a combination of factors including Rubrik, Inc.’s robust position in the data security market and its innovative technology. Rubrik’s seamless integration of backup and security services positions it as a top-tier vendor in an era where data breaches and cyber threats are increasingly common. The company’s ability to sustain a growth profile of over 20% in annual recurring revenue (ARR) makes its valuation particularly attractive, considering the growth trajectory it is on. Additionally, Rubrik’s advanced capabilities in time-series data analytics and threat detection provide strong defenses, particularly against ransomware attacks, which supports potential for continued revenue expansion.
Furthermore, with a customer base of over 6,000 and an eye on a total addressable market of 65,000, Rubrik’s strategy focused on security, alongside its cloud-native solutions and strategic partnerships, suggest a promising growth outlook. The shift to a Software as a Service (SaaS) model with the introduction of the Rubrik Security Cloud aligns well with industry trends toward cloud-native solutions and positions the company to capitalize on the growing demand for comprehensive data security. Rubrik’s potential for capturing a larger share of IT budgets, its strong Net revenue-retention rates, and the expected growth in cloud ARR indicate a robust financial future for the company, reinforcing Kothari’s Buy rating.
Kothari covers the Technology sector, focusing on stocks such as Fortinet, Zscaler, and Elastic. According to TipRanks, Kothari has an average return of 28.6% and a 77.44% success rate on recommended stocks.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Rubrik, Inc. Class A (RBRK) Company Description:
Rubrik built Rubrik Security Cloud, or RSC, with Zero Trust design principles to secure data across enterprise, cloud, and software-as-a-service, or SaaS, applications. RSC delivers a cloud native SaaS platform that detects, analyzes, and remediates data security risks and unauthorized user activities. Our platform is architected to help organizations achieve cyber resilience, which encompasses cyber posture and cyber recovery. We enable organizations to confidently accelerate digital transformation and leverage the cloud to realize business agility.