We recently published a list of 14 Trending AI Stocks on Latest Ratings and News. In this article, we are going to take a look at where Rubrik, Inc. (NYSE:RBRK) stands against other trending AI stocks on latest ratings and news.
AI startups have raised hundreds of millions through funding rounds this year and fetched valuations in the billions. Most of these startups are software companies working on expanding AI use cases. In the midst of this AI boom, BrightAI, an AI startup that focuses on the physical aspect of the AI business, is now making waves on Wall Street. Founded by Alex Hawkinson, an entrepreneur and investor with a proven track record in the tech world, the company offers an end-to-end tech platform that uses sensors to help companies monitor physical assets. These sensors send data to an AI algorithm that processes it and can help predict potential issues before they arise.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Tech news website TechCrunch reports that the startup first launched this product in 2023. Since then, the firm has managed to attract seven large enterprise customers across six verticals, including HVAC, waste management, and power. It has deployed more than 250,000 sensors and has reached $80 million in revenue. These figures are impressive since the startup managed to do this without raising any outside capital. However, the firm is now looking to expand and recently raised more than $15 million in a funding round led exclusively by Los Angeles-based Upfront Ventures.
READ ALSO: 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Rubrik, Inc. (NYSE:RBRK)
Number of Hedge Fund Holders: 23
Rubrik, Inc. (NYSE:RBRK) provides data security solutions to individuals and businesses worldwide. The cybersecurity platform of the firm uses AI and machine learning to monitor for threats and provide sophisticated data recovery. On November 19, Guggenheim raised the price target on the stock to $52 from $48 and kept a Buy rating on the shares. The advisory is raising its price target due to less conservative assumptions, telling investors that it believes Rubrik is set up well to outperform consensus estimates for fiscal Q3 total revenue and subscription ARR, and raise full-year guidance for both metrics by at least the amount of the quarterly upside.
Overall, RBRK ranks 13th on our list of trending AI stocks on latest ratings and news. While we acknowledge the potential of RBRK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RBRK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.