RubrikNYSE: RBRK

Bipul Sinha, Rubrik co-founder, chairman, and CEO, joins 'Closing Bell Overtime' to talk the company's first quarterly report, the state of cybersecurity, and more.

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.

Joel Fishbein, Truist managing director, joins 'Closing Bell: Overtime' to discuss Rubrik shares jumping on its Q1 earnings.

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's stock has shown strong performance in a challenging market, with solid gains on its first day of trading. The company provides a secure cloud platform for data protection and cybersecurity. However, despite its impressive growth and significant annual revenue, I am hesitant due to the company's large losses and high valuation.

Summary of U.S. IPO Weekly: Multiple IPOs Raise more than $1.3 Billion, with Cybersecurity Unicorn Rubrik Leading the Way.

Rubrik, a company specializing in cloud data management and security, had a strong IPO, with its stock trading 15% higher at the end of the day. While the company's revenue growth has been moderate, its subscription annual recurring revenue (ARR) has increased by 47% compared to the previous year. With the funds raised from the IPO, Rubrik now has approximately $800 million in net cash on its balance sheet.

Rubrik, a data management software company providing security solutions to large enterprises, recently debuted on the stock market with its initial public offering (IPO). This event is a current gauge of ongoing interest in technology-focused IPOs.

Rubrick's stock price rose by as much as 20% above its IPO price on Thursday. The data management company, supported by Microsoft, introduced its shares on the New York Stock Exchange with the symbol "RBRK" at $32 per share, exceeding the initial price range of $28 to $31.