RBRK - Notes from "Forward" 2026: Unique in Many Ways

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RBRK - Notes from "Forward" 2026: Unique in Many Ways

June 11, 2026

John DiFucci john.difucci@guggenheimpartners.com RBRK - Notes from "Forward" 2026: Unique in Many

212 518 9670 Ways

Lawrence Vensko

lawrence.vensko@guggenheimpartners.com

212 518 9548 Key Message: We attended Rubrik's Investor Day at its "Forward" conference in Las

Vegas yesterday. Several members of Rubrik's Management team presented on the

technology & architecture, product & innovation, GTM strategy, and the financials of

the company. It was evident to us that Rubrik is not a company comfortable with being

basic, but a company intending to pioneer new (and existing) markets which we believeRBRK BUY starts from the top with CEO, Chairman, and Co-Founder Bipul Sinha. For instance, the

Rubrik, Inc. investment community has heard numerous Software vendors state that they have the

Sector: Software right to win in the nascent AI Agent security and management market. It's still early, but

we can't help but think about the unique position of Rubrik who not only manages the Company Update time-series data, but also the real time application data, which positioned it to solve the

Share Price $71.32 burgeoning problem of Ransomware when no one else could. That same architecture has

Price Target $110.00 evolved into a Platform with DSPM and Identity resilience, but it seems to us that Rubrik

is still uniquely positioned to solve this new problem. In addition, the company's GTM

organization seems well suited for the challenge with new CRO Jesse Green. Again, it's

Revenue ($M) still early, but we wouldn't count Rubrik and Mr. Sinha's team out - frankly, we expect them

(FY JAN) 1Q 2Q 3Q 4Q FY to be in the thick of this exciting opportunity. We remain Buy rated with a $110 price target.

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