KeyCorp Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Rubrik (NYSE:RBRK) had its price objective upped by research analysts at KeyCorp from $48.00 to $57.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 15.77% from the company’s current price.

RBRK has been the topic of several other reports. Wedbush upped their price target on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Guggenheim increased their target price on shares of Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. CIBC lifted their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. Robert W. Baird increased their price objective on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Oppenheimer started coverage on Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Rubrik has an average rating of “Buy” and an average price target of $46.71.

Rubrik Price Performance

RBRK opened at $49.23 on Friday. The company has a 50-day moving average of $38.27 and a 200-day moving average of $34.82. Rubrik has a 1-year low of $28.34 and a 1-year high of $49.73.

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

Insiders Place Their Bets

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $44.48, for a total value of $444,800.00. Following the sale, the chief financial officer now owns 385,360 shares of the company’s stock, valued at $17,140,812.80. This trade represents a 2.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 454,512 shares of company stock worth $15,813,462 over the last ninety days.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently modified their holdings of RBRK. Register Financial Advisors LLC acquired a new stake in shares of Rubrik during the second quarter valued at approximately $227,000. Zweig DiMenna Associates LLC acquired a new stake in Rubrik during the 2nd quarter valued at $6,730,000. EFG Asset Management North America Corp. purchased a new stake in shares of Rubrik in the second quarter valued at $925,000. ARK Investment Management LLC acquired a new stake in shares of Rubrik in the second quarter worth $6,043,000. Finally, Cisco Systems Inc. acquired a new stake in shares of Rubrik in the second quarter worth $5,613,000.

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.