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home / news releases / CVLT - Rubrik: Latest Cybersecurity IPO - Initiating Coverage Buy Rating

CVLT - Rubrik: Latest Cybersecurity IPO - Initiating Coverage Buy Rating

Commvault Systems Inc.

2024-04-25 18:45:45 ET

Summary

  • Rubrik, a cloud data management and data security company, had a successful IPO, with the stock trading 15% higher at the close.
  • The company's revenue growth has been modest, but subscription ARR has jumped 47% year-over-year.
  • Including proceeds raised in the IPO, the company has around $800 million in net cash on its balance sheet.
  • I'm initiating coverage with a buy rating and $44 price target.

For further details see:

Rubrik: Latest Cybersecurity IPO - Initiating Coverage, Buy Rating
Stock Information
Company Name: Commvault Systems Inc.
Stock Symbol: CVLT
Market: NASDAQ
Website: commvault.com
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