Robert W. Baird analyst Shrenik Kothari maintained a Buy rating on Rubrik, Inc. Class A (RBRK – Research Report) today and set a price target of $110.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors surrounding Rubrik, Inc.’s strategic acquisition of Predibase. This acquisition is seen as a pivotal move to bolster Rubrik’s position as a leading data security vendor, particularly in the realm of AI-driven applications. By integrating Predibase’s platform, Rubrik aims to enhance its capabilities in securely deploying and operationalizing AI models, thus expanding its influence in AI risk management and data integrity.
Furthermore, the acquisition aligns with Rubrik’s strategic vision to serve as the ‘security backbone for GenAI adoption.’ The integration of Predibase with Rubrik’s existing Annapurna initiative is expected to create a comprehensive AI security framework, addressing key concerns such as data leakage and model integrity. This strategic alignment is anticipated to open new monetization opportunities and strengthen partnerships across major cloud platforms, making Rubrik a compelling choice for enterprises investing in AI technologies.
In another report released on June 13, Wells Fargo also reiterated a Buy rating on the stock with a $125.00 price target.
Based on the recent corporate insider activity of 109 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.