Citi analyst Fatima Boolani reiterated a Buy rating on Rubrik, Inc. Class A (RBRK – Research Report) yesterday and set a price target of $85.00.
Fatima Boolani has given her Buy rating due to a combination of factors that highlight Rubrik, Inc.’s strong market position and growth potential. The company has demonstrated a robust demand and execution strategy, supported by its unique technological advantages and aggressive go-to-market efforts. This positions Rubrik to capture a significant share of the backup and recovery market, which is valued at over $10 billion, despite currently holding less than 10% of it.
Moreover, Rubrik’s ability to maintain a pricing premium in a competitive environment, along with positive feedback on its comprehensive restore and immutable backup capabilities, further solidifies its market standing. Although there are concerns about macroeconomic uncertainties and large deal timing, the company’s data security growth prospects and improved financial metrics, such as narrowing loss profiles and faster free cash flow break-even timelines, make its current valuation an attractive entry point for investors.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $78.00 price target.
RBRK’s price has also changed dramatically for the past six months – from $33.500 to $53.820, which is a 60.66% increase.