Rubrik (NYSE:RBRK) Price Target Raised to $70.00

Rubrik (NYSE:RBRK) had its target price lifted by Barclays from $51.00 to $70.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on RBRK. BMO Capital Markets upped their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday. Cantor Fitzgerald increased their price objective on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial increased their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $72.00 price objective (up from $42.00) on shares of Rubrik in a research report on Friday. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $60.59.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $64.63 on Friday. The firm’s 50-day moving average price is $42.65 and its 200-day moving average price is $36.20. Rubrik has a 12-month low of $28.34 and a 12-month high of $72.66.

Rubrik (NYSE:RBRK) last announced its 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 for the quarter, compared to analysts’ expectations of $195.58 million. Analysts anticipate that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at $15,496,437.60. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 574,912 shares of company stock worth $22,673,114 over the last three months.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik during the third quarter worth $25,000. KBC Group NV purchased a new position in shares of Rubrik during the third quarter worth $72,000. Quent Capital LLC purchased a new position in shares of Rubrik during the third quarter worth $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik during the third quarter worth $208,000. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Rubrik during the third quarter worth $243,000.

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.