Rubrik initiated with a Buy at Mizuho

Mizuho analyst Gregg Moskowitz initiated coverage of Rubrik with a Buy rating and $46 price target. The analyst believes the company’s focus on protecting and operationalizing data, along with “best-in-class” ransomware defenses, has enabled it to significantly separate from most legacy and next-generation vendors in the space. The firm thinks Rubrik will continue to grow at a “very healthy rate” and sees a good opportunity for the shares to go meaningfully higher over the next 12 months and beyond.