Rubrik initiated with a Buy at Jefferies

Jefferies initiated coverage of Rubrik (RBRK) with a Buy rating and $65 price target The firm believes the company is well positioned for sustainable growth in the long term, driven by the secular tailwinds of ransomware, cloud workloads, and data growth. Jefferies sees upside to consensus annual recurring revenue estimates in fiscal 2027 and believes Rubrik can sustain subscription ARR growth of 20%-plus over the next few years.