Analyst Fatima Boolani of Citi maintained a Buy rating on Rubrik, Inc. Class A, retaining the price target of $117.00.
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Fatima Boolani’s rating is based on Rubrik, Inc.’s strong performance and strategic positioning in the market. The company has demonstrated healthy demand and robust execution, achieving a significant milestone of $1 billion in Cloud ARR with a 57% year-over-year growth. This performance underscores a substantial subscription ARR growth, which is notably above market expectations.
Despite some pressures from high expectations and a deceleration in subscription NNARR, Rubrik’s ability to secure large deals and its focus on cybersecurity and data security risks provide a solid foundation for future growth. The company’s strategic investments, including mergers and acquisitions, and its efforts to deepen its product platform and strengthen its go-to-market strategies, particularly with large clients, support the Buy rating. The anticipated improvements in profitability and sustained topline growth further justify this positive outlook.
Boolani covers the Technology sector, focusing on stocks such as Cloudflare, Check Point, and Fortinet. According to TipRanks, Boolani has an average return of 19.4% and a 65.31% success rate on recommended stocks.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $120.00 price target.