Rubrik (NYSE:RBRK) Price Target Raised to $57.00

Rubrik (NYSE:RBRK) had its price objective raised by KeyCorp from $48.00 to $57.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. Robert W. Baird boosted their price objective on Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Oppenheimer started coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. BMO Capital Markets lowered their price objective on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Wedbush raised their price target on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler began coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $46.71.

Rubrik Stock Up 3.9 %

RBRK opened at $51.05 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $51.58. The firm’s fifty day moving average price is $38.68 and its two-hundred day moving average price is $34.95.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Sell-side analysts predict that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.38, for a total value of $1,259,500.00. Following the completion of the sale, the executive now owns 362,545 shares in the company, valued at approximately $18,265,017.10. This represents a 6.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction dated Friday, September 13th. The shares were 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. In the last 90 days, insiders have sold 491,312 shares of company stock worth $17,657,062.

Institutional Trading of Rubrik

A number of large investors have recently made changes to their positions in the stock. Register Financial Advisors LLC bought a new position in shares of Rubrik during the 2nd quarter worth $227,000. Zweig DiMenna Associates LLC purchased a new position in Rubrik during the 2nd quarter valued at about $6,730,000. EFG Asset Management North America Corp. bought a new stake in shares of Rubrik in the 2nd quarter valued at about $925,000. ARK Investment Management LLC purchased a new stake in shares of Rubrik in the 2nd quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. bought a new position in shares of Rubrik during the second quarter valued at approximately $5,613,000.

About Rubrik

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.