Goldman Sachs Analyst Reaffirms Buy on Rubrik Despite Quarterly Losses, Highlights Strong ARR Growth
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Kash Rangan reaffirmed a Buy rating on Rubrik, Inc. (NYSE:RBRK) despite quarterly losses, highlighting strong ARR growth and positive long-term outlook. Rubrik reported a quarterly EPS loss of $1.58 and sales of $187.31 million. The analyst expects Rubrik to outperform its ARR guidance and achieve over 20% operating margins as its base matures.
June 12, 2024 | 6:22 pm
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Goldman Sachs analyst Kash Rangan reaffirmed a Buy rating on Rubrik, Inc. (NYSE:RBRK) with a price target of $48, despite the company reporting a quarterly EPS loss of $1.58. The analyst highlighted strong ARR growth and expects Rubrik to outperform its ARR guidance and achieve over 20% operating margins as its base matures.
The reaffirmation of a Buy rating by a major analyst like Goldman Sachs, despite quarterly losses, is a positive signal for investors. The strong ARR growth and positive long-term outlook are likely to boost investor confidence, potentially leading to a short-term price increase.
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