Rubrik initiated with a Buy at Truist

Truist analyst Joel Fishbein initiated coverage of Rubrik with a Buy rating and $43 price target. The company’s Zero Trust Data Security approach helps customers achieve resilience against cyberattacks and the firm believes that their SaaS transition supports a runway for durable growth. The firm’s “bull model” suggests that Rubrik can grow revenue at least 40% through FY26 and the firm can also see free cash flow margins trending to 15% over that time frame, the analyst tells investors.