Oppenheimer analyst Param Singh initiated coverage of Rubrik (RBRK) with a Perform rating and no price target The firm sees Rubrik benefiting from the rising importance of data, which is driving backup storage TAM; growing data security breaches and ransomware attacks that align with the company’s security-first approach; and the industry shift to as-a-service platforms. However, the firm expects management to continue with its heavy investment and expects Rubrik to remain at an operating loss for the next three years.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
