Goldman Sachs Analyst Reaffirms Buy on Rubrik Despite Quarterly Losses, Highlights Strong ARR Growth
Goldman Sachs Analyst Reaffirms Buy on Rubrik Despite Quarterly Losses, Highlights Strong ARR Growth
Goldman Sachs analyst Kash Rangan reiterated a Buy rating on Rubrik, Inc. (NYSE:RBRK) with a price target of $48.
高盛分析师卡什·兰根重申对红杉林公司（纽交所：RBRK）的买入评级，目标股价为48美元。
Yesterday, Rubrik reported a quarterly EPS loss of $1.58 versus a year-ago loss of $1.48 and sales of $187.31 million, up from $135.74 million in the year-ago period.
昨天，红杉林报告季度每股收益为1.58美元的亏损，去年同期为1.48美元的亏损和1.8731亿美元的销售额，今年同期为1.3574亿美元。
Rubrik said it sees a second-quarter EPS loss of $0.50-$0.48 vs. market estimates of $0.50 loss and revenue of $195 million to $197 million versus estimates of $194.89 million.
红杉林表示，它预计第二季度每股收益将为0.50-0.48美元，市场预计为0.50美元的亏损，营业收入为1.95亿-1.97亿美元，市场预计为1.9489亿美元。
The analyst says that despite the recent softening sentiment in the software sector due to several weaker-than-expected off-cycle prints, they maintain a positive outlook on the quality of Rubrik's results.
分析师表示，尽管由于多个弱于预期的非周期性质印刷品而导致软件板块的近期情绪放缓，但他们仍对红杉林的业绩质量持积极态度。
The analyst writes that Subscription ARR outperformance beats their expectations by 4%, and Contribution Margin outperformance exceeds expectations by 500 basis points, and there is a 21-point beat on Free Cash Flow Margin compared to consensus.
分析师称，订阅增长率的表现超出了他们的预期4%，贡献率的表现超出了500个基点的预期，与共识相比的自由现金流率的超额21个百分点。
However, management indicated strong linearity in the first quarter, with relatively stable macro conditions and a healthy pipeline. Given the recent negative data points from the software sector, exercising caution seems prudent at this early stage in the year, writes the analyst.
然而，管理层表示第一季度表现良好，宏观条件相对稳定，销售管道畅通。考虑到软件板块最近的负面数据，分析师认为在今年初行使谨慎是明智的。
Despite potential challenges, Rangan expects Rubrik to outperform its improved ARR guidance thanks to its position as a next-gen data security platform, accelerating large deal activity, and sustainable Net Revenue Retention over 120%.
尽管存在潜在的挑战，兰根预计红杉林将通过作为下一代数据安全平台的地位、加速大笔交易活动以及可持续的净营业收入保留率超过120%来超越其改进的订阅增长率指引。
The analyst says the company is positioned for long-term ARR growth of over 20% and achieving over 20% operating margins as its base matures.
分析师称，该公司定位于超过20%的长期订阅增长和实现超过20%的营业利润率，因为其基础成熟。
The analyst revised EPS loss estimates to $2.30 from $1.61 for FY25, $1.50 from $1.19 for FY26 and $0.82 from $0.64 for FY27.
分析师将FY25的每股收益亏损预期从1.61美元修订为2.30美元，将FY26的每股收益亏损预期从1.19美元修订为1.50美元，将FY27的每股收益亏损预期从0.64美元修订为0.82美元。
Price Action: RBRK shares are down 6.11% at $33.11 at the last check Wednesday.
股价走势：周三最后一次查询时，RBRK股价下跌6.11%，报33.11美元。
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