Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on RBRK stock, giving a Buy rating yesterday.
Shrenik Kothari has given his Buy rating due to a combination of factors including Rubrik’s strong market position and recent stock performance. Despite a recent pullback, the stock has shown significant gains over the past six months, outperforming industry benchmarks. This presents a compelling buying opportunity as the stock is currently trading at a discount compared to its growth peers.
Furthermore, Rubrik’s robust enterprise adoption and the favorable demand for cybersecurity solutions enhance its growth prospects. The company’s leadership in the cyber resilience market is reinforced by strong channel checks and high competitive win rates, particularly in hybrid-cloud and SaaS-based environments. The favorable compliance landscape and increasing cyber threats are expected to drive further demand, supporting the company’s outlook and justifying the Buy rating.
Kothari covers the Technology sector, focusing on stocks such as Check Point, CyberArk Software, and Okta. According to TipRanks, Kothari has an average return of 23.8% and a 72.20% success rate on recommended stocks.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $78.00 price target.