Brokerages Set Rubrik, Inc. (NYSE:RBRK) Target Price at $45.00

Rubrik, Inc. (NYSE:RBRK) has earned an average recommendation of “Buy” from the nineteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.00.

A number of analysts have commented on the stock. Piper Sandler assumed coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a report on Tuesday, September 10th. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a report on Tuesday, September 10th. FBN Securities assumed coverage on shares of Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Robert W. Baird raised their price target on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Rubrik Stock Performance

RBRK opened at $43.24 on Monday. Rubrik has a twelve month low of $28.34 and a twelve month high of $45.90. The company has a 50-day moving average price of $37.18 and a 200 day moving average price of $34.50.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, equities analysts forecast that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the firm’s 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 completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at $1,857,536.64. This trade represents a 63.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the completion of the transaction, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,512 shares of company stock valued at $15,368,662.

Hedge Funds Weigh In On Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBRK. Dragoneer Investment Group LLC purchased a new position in Rubrik in the 2nd quarter valued at approximately $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik during the 3rd quarter worth $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the 3rd quarter worth $42,247,000. PointState Capital LP purchased a new stake in shares of Rubrik during the 3rd quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC lifted its position in shares of Rubrik by 3,620.4% during the 3rd quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares during the last quarter.

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.