Rubrik (NYSE:RBRK) Given New $77.00 Price Target at BMO Capital Markets

Rubrik (NYSE:RBRK) had its price objective increased by BMO Capital Markets from $72.00 to $77.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 9.16% from the company’s current price.

Several other analysts have also weighed in on RBRK. Citigroup upped their price objective on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler upped their target price on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company upped their target price on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Mizuho upped their target price on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Two 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 MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Price Performance

NYSE:RBRK opened at $70.54 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00. The business has a fifty day moving average of $68.27 and a 200-day moving average of $53.64.

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 firm had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period last year, the business posted ($1.59) EPS. Analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 3,973 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $287,406.82. Following the transaction, the chief financial officer now owns 345,374 shares of the company’s stock, valued at approximately $24,984,355.16. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Institutional Trading of Rubrik

Several hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. bought a new stake in Rubrik during the 4th quarter valued at approximately $115,000. PharVision Advisers LLC bought a new stake in Rubrik during the 4th quarter valued at approximately $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rubrik by 168.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock valued at $43,610,000 after purchasing an additional 418,457 shares during the period. Voloridge Investment Management LLC bought a new stake in Rubrik during the 4th quarter valued at approximately $85,331,000. Finally, Washington Harbour Partners LP bought a new stake in Rubrik during the 4th quarter valued at approximately $4,235,000. Institutional investors own 49.54% of the company’s stock.

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.