Gregg Moskowitz, an analyst from Mizuho Securities, maintained the Buy rating on Rubrik, Inc. Class A (RBRK – Research Report). The associated price target was lowered to $75.00.
Gregg Moskowitz has given his Buy rating due to a combination of factors that highlight Rubrik, Inc.’s strong market position and impressive financial performance. The company reported a robust growth in subscription Annual Recurring Revenue (ARR), reaching $1.093 billion, which marks a 39% year-over-year increase, surpassing both the firm’s and the market’s expectations. This growth was largely driven by a significant 67% increase in Cloud ARR, which now constitutes 80% of the total ARR.
Furthermore, Rubrik’s management provided optimistic guidance for future financial performance, projecting substantial growth in both revenue and free cash flow, well above market forecasts. The company’s focus on data protection and ransomware defense has allowed it to distinguish itself from competitors, supporting continued healthy growth. Despite a slight reduction in the price target due to market conditions, Moskowitz maintains a positive outlook on Rubrik’s ability to outperform its peers in the high-growth software sector.
In another report released on March 14, Truist Financial also reiterated a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RBRK in relation to earlier this year.