Rubrik initiated with an Outperform at Wolfe Research

As previously reported, Wolfe Research analyst Patrick O’Neill initiated coverage of Rubrik (RBRK) with an Outperform rating and $70 price target Rubrik, a cloud-native resiliency platform, finds itself “at the intersection of data and security, two of the most important categories of software with the rise of AI today,” the analyst tells investors. The firm is confident in Rubrik’s ability to maintain 30%-plus Subscription ARR growth this year and durable high-20%-plus growth in out years, the analyst added.