Rubrik initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Yi Fu Lee initiated coverage of Rubrik with an Overweight rating and $50 price target. Rubrik is an innovative zero trust data Security platform pioneer seeking to capture the secular tailwinds from accelerating data usage, digital modernization and generative artificial intelligence proliferation, the analyst tells investors in a research note. The firm believes the company is the “right” data security and resilience asset to invest in “as the technology architecture is highly differentiated, built for the modern cloud era.” Cantor says the volatile Q1 earnings season for the cybersecurity software sector is presenting an attractive entry point for the stock.