From Nasdaq: 2024-05-22 11:29:32

Rubrik (RBRK) is a data management company focused on backup and recovery, offering innovative solutions for managing data across private and public clouds. It recently went public through an IPO, pricing its shares at $32 and raising $752 million, with a market cap of $5.6 billion.

Microsoft (MSFT) invested in Rubrik, valuing the company at $6.2 billion. Rubrik’s shift to a SaaS model for cybersecurity software has been well-received, as it tackles the rising threat of cyberattacks and data breaches. The company saw significant growth, ending fiscal 2024 with $784 million in annual recurring revenue.

Analysts are bullish on Rubrik stock, with multiple investment banks giving it “Buy” ratings. Truist Securities believes Rubrik’s approach to data security will drive strong sales growth and improved profit margins, with expectations of a 15% free cash flow margin by the end of fiscal 2026. Out of 12 analysts covering RBRK, 11 recommend “Strong Buy.”



Read more at Nasdaq: Is Newly Public Rubrik Stock a Buy?