Rubrik Benefits From Rebounding Backup, Recovery Demand, Oppenheimer Says

MT Newswires Live05-20 23:07

Rubrik (RBRK) is benefiting from rebounding backup and recovery/cyber-resilience demand given its improving product leadership in several workloads, Oppenheimer said in a note Wednesday.

The company has outperformed competitors and survey checks indicated that Rubrik is the vendor of choice for on-premise, SaaS, and data security workloads, according to the note.

Rubrik's products and platform are positioned to gain sales traction, with resellers vouching for their competitive edge, Oppenheimer said. In addition, higher memory pricing does not appear to be weighing down demand as the company is focused on mission-critical workloads, analysts said.

The company is expected to beat estimates and raise its fiscal 2027 guidance when it reports fiscal Q1 earnings on June 4, the brokerage said.

Oppenheimer upgraded Rubrik to outperform from perform, with a price target of $85.

Shares of Rubrik were up more than 2% in Wednesday trading.

Price: 65.86, Change: +1.53, Percent Change: +2.38

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