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

Shares of Rubrik, Inc. (NYSE:RBRK) have been given an average recommendation of “Buy” by the nineteen analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, fifteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $47.12.

Several research analysts have issued reports on RBRK shares. Oppenheimer began coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Wedbush boosted their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. BMO Capital Markets cut their target price on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Citigroup boosted their price target on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Truist Financial upped their price target on Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th.

Rubrik Trading Up 1.9 %

Shares of NYSE:RBRK opened at $53.63 on Friday. The stock has a fifty day simple moving average of $42.00 and a two-hundred day simple moving average of $35.98. Rubrik has a 12-month low of $28.34 and a 12-month high of $54.90.

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

Insider Transactions at Rubrik

In related news, Director Ravi Mhatre sold 15,933 shares of Rubrik 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. The trade was a 9.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 518,112 shares of company stock worth $18,997,746 in the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RBRK. Barclays PLC raised its position in shares of Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after purchasing an additional 7,029 shares during the period. Geode Capital Management LLC increased its stake in Rubrik by 133.3% in the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after buying an additional 324,951 shares in the last quarter. XTX Topco Ltd bought a new stake in Rubrik during the third quarter valued at about $571,000. State Street Corp lifted its position in shares of Rubrik by 368.9% in the third quarter. State Street Corp now owns 421,096 shares of the company’s stock valued at $13,538,000 after acquiring 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 third quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock valued at $2,204,000 after acquiring an additional 55,062 shares in 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.