Rubrik (NYSE:RBRK) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Rubrik (NYSE:RBRK) in a report released on Friday,Benzinga reports. The firm currently has a $85.00 target price on the stock.

Several other analysts have also weighed in on the company. Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday. Robert W. Baird lowered their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company increased their price objective on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. William Blair began coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating on the stock. Finally, Piper Sandler increased their price objective on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Price Performance

Rubrik stock opened at $70.54 on Friday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock’s fifty day moving average is $68.20 and its two-hundred day moving average is $53.27.

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

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.15, for a total value of $1,578,750.00. Following the transaction, the executive now directly owns 356,043 shares in the company, valued at $22,484,115.45. This trade represents a 6.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after purchasing an additional 3,372,323 shares during the period. Norges Bank purchased a new stake in shares of Rubrik during the 4th quarter valued at about $277,395,000. FMR LLC raised its holdings in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares during the period. First Trust Advisors LP raised its holdings in shares of Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock valued at $206,278,000 after buying an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock valued at $129,359,000 after buying an additional 427,149 shares during the period. 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.