Rubrik (NYSE:RBRK) Price Target Increased to $48.00 by Analysts at Citigroup

Rubrik (NYSE:RBRK) had its target price upped by Citigroup from $47.00 to $48.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Mizuho began coverage on Rubrik in a research report on Monday, May 20th. They set a buy rating and a $46.00 price objective for the company. Robert W. Baird started coverage on Rubrik in a report on Monday, July 15th. They issued an outperform rating and a $42.00 target price for the company. Wedbush reduced their target price on Rubrik from $50.00 to $44.00 and set an outperform rating for the company in a report on Tuesday. Wells Fargo & Company reduced their target price on Rubrik from $42.00 to $40.00 and set an overweight rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Rubrik in a report on Monday, May 20th. They issued a buy rating and a $42.00 target price for the company. Fifteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $44.69.

Rubrik Stock Down 0.8 %

NYSE:RBRK opened at $30.50 on Wednesday. The business’s 50-day simple moving average is $33.54. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Tuesday, June 11th. The company reported ($11.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.88) by ($0.59). The firm had revenue of $187.32 million during the quarter, compared to analyst estimates of $171.60 million. As a group, research analysts forecast that Rubrik will post -7.93 earnings per share for the current year.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently modified their holdings of RBRK. Dragoneer Investment Group LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $47,523,000. Clearbridge Investments LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $32,888,000. EPIQ Capital Group LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $15,111,000. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $6,730,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $6,287,000.

Rubrik Company Profile

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.