Rubrik shares hold as KeyBanc maintains $48 target on new Salesforce support By Investing.com

On Monday, Rubrik Inc (NYSE:RBRK) retained its Overweight rating and $48.00 price target from KeyBanc. The firm’s optimism follows Rubrik’s announcement of data protection support for Salesforce (NYSE:), marking the third major Software-as-a-Service (SaaS) application now supported by the company. Rubrik’s expansion into Salesforce was not anticipated by investors, adding to its existing support for Microsoft (NASDAQ:) M365 and Atlassian (NASDAQ:) Jira.

Rubrik’s integration with Salesforce is already available on the Salesforce AppExchange, indicating that the service is generally available (GA) to users. This development is seen as a positive move for Rubrik, providing a substantial opportunity for cross-selling its data protection services. Rubrik’s support for Microsoft M365 has already achieved a $60 million run rate as of October 2023, after its launch in early 2022, demonstrating the company’s capability to scale its offerings.

The addition of Salesforce to Rubrik’s supported platforms is expected to enhance the company’s market position by broadening the scope of its services. Rubrik’s strategy to extend its data protection to major SaaS applications like Salesforce, Microsoft M365, and Atlassian Jira, reflects its commitment to addressing the diverse needs of its customer base.

KeyBanc’s reiteration of the Overweight rating and price target for Rubrik underscores the firm’s confidence in Rubrik’s strategic direction and potential for growth.

The company’s latest initiative to support Salesforce is indicative of its ongoing efforts to enhance its product portfolio and strengthen its position in the data protection market.

In other recent news, Rubrik Inc has been the subject of several analyst adjustments following strong earnings and revenue results. The cloud data management company’s annual recurring revenue (ARR) exceeded expectations by $35 million, marking a 22% sequential increase, particularly in large deal acquisitions with healthcare sector customers.

Investment firm Piper Sandler initiated coverage of Rubrik, assigning an Overweight rating and setting a price target of $42, citing the company’s effective go-to-market strategy. Mizuho Securities, despite reducing its price target to $43.00, maintained its Outperform rating, while Truist Securities reiterated a Buy rating, highlighting Rubrik’s successful shift to a Software-as-a-Service model.

KeyBanc increased its price target to $48, citing robust first-quarter ARR results, and Citi raised its price target to $47.00, maintaining a Buy rating and praising Rubrik’s strong ARR from subscriptions. These recent developments reflect a positive outlook from various investment firms towards Rubrik’s financial performance.

InvestingPro Insights

In light of Rubrik Inc’s (NYSE:RBRK) recent positive developments, InvestingPro data and tips offer additional insights that may be valuable for investors. With a market capitalization of approximately $6.02 billion and a significant revenue growth of nearly 16% over the last twelve months as of Q1 2025, Rubrik’s financial health appears robust. This is further evidenced by the company’s gross profit margin of almost 70% during the same period, indicating strong operational efficiency.

From an investment standpoint, InvestingPro Tips highlight that Rubrik holds more cash than debt on its balance sheet, which can be reassuring for investors looking for financial stability in a company. Moreover, the fact that 8 analysts have revised their earnings upwards for the upcoming period suggests a positive sentiment about the company’s future performance, despite analysts not anticipating profitability this year. It is also worth noting that Rubrik is trading at a high revenue valuation multiple, which may reflect market expectations of future growth, especially considering the company’s recent expansion into Salesforce data protection.

Investors interested in further insights can find additional InvestingPro Tips for Rubrik, which provide a deeper analysis of the company’s financials and market potential. As of now, there are 5 more tips available that could offer a more comprehensive understanding of Rubrik’s investment profile.

KeyBanc’s Overweight rating and $48.00 price target, alongside Rubrik’s strategic expansion, suggest a favorable outlook for the company. The InvestingPro data and tips serve to enrich this perspective by providing a snapshot of the company’s current financial status and future prospects.

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