Rubrik (NYSE:RBRK) Price Target Raised to $50.00

Rubrik (NYSE:RBRK) had its price objective hoisted by Truist Financial from $43.00 to $50.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on RBRK. Piper Sandler started coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target for the company. Wedbush lifted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer started coverage on shares of Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. CIBC lifted their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $46.18.

Rubrik Stock Performance

RBRK stock opened at $45.16 on Monday. Rubrik has a 12-month low of $28.34 and a 12-month high of $45.90. The company’s fifty day simple moving average is $37.90 and its 200 day simple moving average is $34.72.

Rubrik (NYSE:RBRK) last released its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Sell-side analysts expect that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,512 shares of company stock worth $15,813,462.

Institutional Investors Weigh In On Rubrik

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rubrik by 133.3% during the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after purchasing an additional 324,951 shares during the last quarter. XTX Topco Ltd bought a new position in Rubrik in the 3rd quarter worth approximately $571,000. State Street Corp boosted its holdings in Rubrik by 368.9% in the 3rd quarter. State Street Corp now owns 421,096 shares of the company’s stock worth $13,538,000 after buying an additional 331,296 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Rubrik by 407.7% in the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock worth $2,204,000 after buying an additional 55,062 shares during the period.

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.