Betting on speculative tech stocks doesn't seem like such a great idea. Not with the Nasdaq 100 in free-fall and investors rushing to take some of their AI stock profits off the table before the bear can claw it away from them.
Rubrik shares have moved very little since going public in April at $32 per share. Rubrik's focus on data resilience sets it apart from competitors in the cybersecurity market, and it addresses a large $56 billion global TAM. Despite operating losses, Rubrik's rapid growth and high-margin recurring revenue stream suggest a path towards profitability.
Rubrik, Inc. recently completed an IPO and just reported strong initial quarterly results, focusing on subscription revenues for data security. Despite concerns over costs, Rubrik's subscription ARR is growing rapidly, with a forecasted total addressable market of $53 billion by 2027. The stock is cheap, trading just above the IPO price, and only trades at ~7x forward sales targets.
Wedbush has initiated coverage on Rubrik Inc with an outperform rating and a $50 price target. Analysts highlighted Rubrik's leading position in data security and cyber resiliency, particularly through its flagship product, Rubrik Security Cloud (RSC).
Rubrik Inc (NYSE:RBRK) stock is up 0.2% to trade at $36.63 at last check, reversing earlier losses after six firms initiated bullish coverage.