Rubrik (NYSE:RBRK) Given New $80.00 Price Target at Wedbush

Rubrik (NYSE:RBRK) had its price target lifted by Wedbush from $75.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup upped their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Mizuho raised their price objective on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Rosenblatt Securities raised Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Rubrik in a research report on Friday. Finally, Truist Financial upped their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Rubrik has an average rating of “Buy” and an average price target of $69.78.

Rubrik Trading Up 27.6 %

Shares of NYSE:RBRK opened at $70.54 on Friday. The business’s 50-day simple moving average is $68.27 and its 200 day simple moving average is $53.78. Rubrik has a one year low of $28.34 and a one year high of $80.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.59) EPS. On average, analysts expect that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other news, CRO Brian K. Mccarthy sold 65,517 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total transaction of $4,328,053.02. Following the completion of the sale, the executive now directly owns 406,043 shares of the company’s stock, valued at $26,823,200.58. This trade represents a 13.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the company’s stock in a transaction on 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. In the last three months, insiders sold 625,712 shares of company stock valued at $41,583,311.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Rubrik in the third quarter worth about $20,774,000. KBC Group NV acquired a new position in Rubrik in the 3rd quarter worth approximately $72,000. Natixis Advisors LLC grew its position in Rubrik by 302.5% during the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after purchasing an additional 40,036 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Rubrik in the third quarter valued at $243,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rubrik by 134.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after purchasing an additional 186,485 shares in the last quarter. Institutional investors and hedge funds 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.