William Blair starts Rubrik with Market Perform on ‘rich’ valuation

William Blair last night initiated coverage of Rubrik (RBRK) with a Market Perform rating. While Rubrik’s growth runway “ooks long and its competitive moat durable,” the stock’s risk/reward is balanced at current levels, the analyst tells investors in a research note. The firm believes Rubrik’s valuation is “rich,” leaving little margin for error.