Mizuho Keeps Neutral on Rubrik (RBRK) Despite Strong Quarterly Results

Core Viewpoint - Rubrik, Inc. is highlighted as a notable AI stock, with a neutral rating from Mizuho analyst Gregg Moskowitz and a price target of $97.00, despite strong quarterly results [1][4]. Financial Performance - The company's subscription annual recurring revenue increased by 36% year-over-year, surpassing Street forecasts of 33% [2]. - Net new subscriptions reached $71 million, reflecting a 12% growth, which is a slowdown compared to the 23% growth in the previous quarter [2]. - Cloud subscriptions exhibited robust growth, increasing by 57% year-over-year [2]. - Management has raised its full-year guidance, indicating positive expectations for future performance [2]. Market Position and Valuation - Analysts believe Rubrik's emphasis on data security and ransomware distinguishes it from competitors [3]. - The stock has appreciated significantly, rising 200% since its IPO in mid-2024 and 51% year-to-date, leading analysts to view the shares as fairly valued [3][4]. - The company is recognized for its strong focus on protecting and operationalizing data, along with advanced ransomware defenses, which sets it apart from legacy and next-gen vendors [4].