Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of “Buy” by Brokerages

Rubrik, Inc. (NYSE:RBRK) has been given a consensus rating of “Buy” by the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.65.

Several equities research analysts have commented on the company. Guggenheim restated a “buy” rating and issued a $48.00 target price on shares of Rubrik in a research note on Tuesday, June 25th. BMO Capital Markets cut their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. CIBC upped their price objective on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 target price on shares of Rubrik in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company dropped their price target on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th.

Insiders Place Their Bets

In related news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 7,583 shares of Rubrik stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $40.14, for a total transaction of $304,381.62. Following the completion of the transaction, the chief financial officer now directly owns 438,560 shares in the company, valued at $17,603,798.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 375,912 shares of company stock worth $12,546,185 in the last 90 days.

Hedge Funds Weigh In On Rubrik

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

Rubrik Stock Down 2.6 %

Shares of Rubrik stock opened at $38.52 on Thursday. The stock has a 50-day simple moving average of $33.98. Rubrik has a 1 year low of $28.34 and a 1 year high of $41.33.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, research analysts predict that Rubrik will post -7.95 EPS for the current fiscal year.

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.