Rubrik initiated with an Outperform at Baird

Baird analyst Shrenik Kothari initiated coverage of Rubrik with an Outperform rating and $42 price target. target. Rubrik stands out as a “top-tier data security vendor, seamlessly integrating backup and security amid surging data and cyber threats,” the analyst tells investors in a research note. The firm says the company is positioned for a sustained 20%+ annual recurring revenue growth profile, and the stock’s valuation “looks compelling given its growth trajectory.”