CHICAGO - Rubrik, Inc. (NYSE: RBRK), a company specializing in data security, announced today the launch of its new cyber resilience service for Microsoft (NASDAQ:MSFT) Azure Blob Storage. This service aims to enhance visibility and security for cloud data, addressing the increasing reliance of organizations on cloud storage solutions.
Azure Blob Storage is a critical service for various industries, offering secure object storage for a range of applications including archives, data lakes, and AI training models. Despite its widespread use, Rubrik's research indicates that object storage in the cloud often receives less security attention compared to on-premises and SaaS data. Rubrik's new service seeks to fill this security gap, with features that autonomously discover, classify, and monitor sensitive data, assess security postures, and provide early warnings of potential threats.
Simpson Strong-Tie, a company in the construction sector, has endorsed Rubrik’s solutions. John Meng, VP of IT Infrastructure & Operations at Simpson Strong-Tie, highlighted the importance of comprehensive data protection and cyber resilience provided by Rubrik, emphasizing the safeguarding of sensitive information for their employees and customers.
Rubrik's announcement extends its ongoing collaboration with Microsoft, which has included comprehensive management of Microsoft 365, integration with Microsoft Sentinel, and participation in the Microsoft Content AI Partner Program. The company was also named the 2024 Microsoft Healthcare Partner of the Year.
The new data protection capabilities for Microsoft Azure Blob Storage by Rubrik are now generally available. This initiative is part of Rubrik's broader mission to secure the world's data through its Zero Trust Data Security™ platform. The platform is designed to help organizations maintain data integrity, monitor threats, and recover from cyberattacks.
This development is based on a press release statement from Rubrik, Inc.
In other recent news, data security firm Rubrik Inc. has been making significant strides with strong earnings and revenue results. The company's annual recurring revenue (ARR) exceeded expectations, leading to upward revisions of the fiscal year 2025 ARR and margin guidance. Rubrik also expanded its market presence by acquiring a company specializing in cyber resilience and AI-driven recovery. The company's cyber recovery solutions now support Nutanix (NASDAQ:NTNX) AHV, a widely-used virtualization platform, enhancing cyber resilience and accelerating forensic investigations after cyberattacks.
Analysts have been closely following these developments. Truist Securities raised its price target on Rubrik from $43.00 to $50.00, maintaining a Buy rating. Citi reaffirmed a Buy rating on Rubrik, expressing confidence in the company's revenue and ARR growth prospects. Oppenheimer initiated coverage on Rubrik with a Perform rating, citing the company's potential but expressing concerns about its current operating loss due to heavy investment. Piper Sandler maintained an Overweight rating despite recent market underperformance linked to a Department of Justice subpoena and troubling news involving a former employee.
These are the recent developments for Rubrik Inc., reflecting the company's robust financial performance and strategic initiatives in the data security field.
InvestingPro Insights
Rubrik's (NYSE: RBRK) recent launch of its cyber resilience service for Microsoft Azure Blob Storage aligns with the company's strong growth trajectory. According to InvestingPro data, Rubrik's revenue growth stands at an impressive 24.7% over the last twelve months, with quarterly revenue growth even higher at 35.25%. This robust growth underscores the increasing demand for Rubrik's data security solutions in the cloud storage market.
An InvestingPro Tip indicates that analysts anticipate sales growth in the current year, which is consistent with the company's expansion of services and partnerships, particularly with Microsoft. This positive outlook is further supported by the fact that 10 analysts have revised their earnings upwards for the upcoming period, suggesting confidence in Rubrik's business model and market position.
Despite the company's strong revenue growth, it's worth noting that Rubrik is not currently profitable, with a negative operating income margin of -142.11%. However, this is not uncommon for high-growth technology companies investing heavily in expansion and product development. The company's gross profit margin of 69.32% indicates a strong underlying business model, which could lead to profitability as the company scales.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 8 more InvestingPro Tips available for Rubrik, providing a deeper understanding of the company's financial health and market position.
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