Rubrik (NYSE:RBRK) Price Target Raised to $80.00

Rubrik (NYSE:RBRK) had its price target boosted by Guggenheim from $76.00 to $80.00 in a research note released on Tuesday, MarketBeat.com reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Truist Financial boosted their price target on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays boosted their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Piper Sandler lifted their price objective on Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $70.00.

Rubrik Stock Down 1.1 %

RBRK stock opened at $70.20 on Tuesday. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00. The firm has a market cap of $13.00 billion and a P/E ratio of -5.09. The company’s 50-day simple moving average is $68.73 and its 200-day simple moving average is $54.51.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same period last year, the firm earned ($1.59) earnings per share. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. On average, analysts anticipate that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 3,000 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the completion of the transaction, the director now owns 153 shares of the company’s stock, valued at $10,714.59. This trade represents a 95.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the sale, the chief financial officer now directly owns 343,774 shares in the company, valued at $23,386,945.22. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,254 shares of company stock valued at $41,195,389 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RBRK. Janus Henderson Group PLC lifted its stake in Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock worth $11,595,000 after acquiring an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Rubrik during the third quarter worth about $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after purchasing an additional 49,372 shares in the last quarter. Renaissance Capital LLC boosted its stake in shares of Rubrik by 21.2% in the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after purchasing an additional 12,714 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in shares of Rubrik in the third quarter valued at approximately $336,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.