Rosenblatt initiated coverage of Rubrik (RBRK) with a Neutral rating and $77 price target The company is benefiting from several macro-IT trends, including the ongoing shift of enterprise applications and data stores to the cloud, the growing demand for improved enterprise IT cyber resilience in the face of disruptive and costly ransomware attacks, and the rapid development of new data-driven AI applications, the analyst tells investors in a research note. Rosenblatt adds however that while it expects Rubrik to continue to grow rapidly and steadily drive operating margin improvement over the next few years, given the recent rapid stock price appreciation post-Q3 results, it is launching coverage at neutral while waiting for a more attractive entry point.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
