Rubrik (NYSE:RBRK) Upgraded to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Rubrik (NYSE:RBRK) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other analysts have also recently issued reports on RBRK. Piper Sandler assumed coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. Guggenheim lifted their price objective on Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday. CIBC boosted their target price on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Wells Fargo & Company lowered their price target on Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Oppenheimer began coverage on shares of Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rubrik currently has an average rating of “Buy” and a consensus price target of $46.71.

Rubrik Stock Up 9.0 %

Rubrik stock opened at $49.23 on Wednesday. Rubrik has a one year low of $28.34 and a one year high of $49.73. The business has a fifty day moving average price of $38.27 and a 200-day moving average price of $34.82.

Rubrik (NYSE:RBRK) last issued 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 during the quarter, compared to analyst estimates of $195.58 million. On average, research analysts predict that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Transactions at Rubrik

In related news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. This represents a 63.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction 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. Over the last quarter, insiders have sold 454,512 shares of company stock worth $15,813,462.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after buying an additional 7,029 shares during the period. Geode Capital Management LLC boosted its holdings in Rubrik by 133.3% in the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after acquiring an additional 324,951 shares in the last quarter. XTX Topco Ltd bought a new position in Rubrik in the 3rd quarter worth $571,000. State Street Corp raised 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 purchasing an additional 331,296 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of 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 purchasing 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.