Rubrik (NYSE:RBRK) Upgraded at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Rubrik (NYSE:RBRK) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat reports. Rosenblatt Securities currently has $77.00 price objective on the stock.

A number of other brokerages have also recently issued reports on RBRK. KeyCorp boosted their price objective on Rubrik from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. BMO Capital Markets upped their price target on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler increased their target price on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Guggenheim reissued a “buy” rating and set a $76.00 price objective on shares of Rubrik in a report on Wednesday, February 26th. Finally, Oppenheimer initiated coverage on Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Price Performance

Rubrik stock opened at $70.54 on Wednesday. The firm has a 50 day moving average price of $68.20 and a 200-day moving average price of $53.27. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data 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 analyst estimates of $233.13 million. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the business posted ($1.59) earnings per share. On average, research analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $2,060,604.90. Following the completion of the sale, the executive now directly owns 346,560 shares of the company’s stock, valued at $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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. Insiders sold a total of 625,712 shares of company stock valued at $41,583,311 over the last 90 days.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Rubrik in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC grew its holdings in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. Nemes Rush Group LLC purchased a new position in shares of Rubrik in the fourth quarter worth $39,000. Point72 Hong Kong Ltd bought a new stake in Rubrik during the 4th quarter valued at $47,000. Finally, Quarry LP purchased a new stake in Rubrik during the 4th quarter valued at $48,000. Institutional investors own 49.54% of the company’s stock.

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.