Rubrik initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Brad Zelnick initiated coverage of Rubrik with a Buy rating and $42 price target. Rubrik is “leading the charge” in disrupting and expanding the $13B market for backup and recovery software, focusing on security as the highest order design principle for helping enterprises achieve cyber resilience, the analyst tells investors in a research note. The firm says dozens of customers and industry constituents validate Rubrik’s ability to capture incremental share of security budgets.