Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Rubrik (NYSE:RBRK) had its price target lifted by Wells Fargo & Company from $76.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

RBRK has been the topic of several other reports. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, March 12th. Guggenheim reaffirmed a “buy” rating and issued a $76.00 price target on shares of Rubrik in a research note on Wednesday, February 26th. KeyCorp increased 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. Piper Sandler lifted their target price on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Barclays increased their target price on shares of Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $69.78.

Rubrik Stock Up 27.6 %

Shares of RBRK stock opened at $70.54 on Friday. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The stock has a 50 day simple moving average of $68.27 and a 200-day simple moving average of $53.78.

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

Insider Buying and Selling

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the sale, the director now owns 153 shares of the company’s stock, valued at $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the transaction, the chief financial officer now owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock valued at $41,583,311.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently bought and sold shares of RBRK. Russell Investments Group Ltd. acquired a new position in Rubrik in the 4th quarter valued at about $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 valued at $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in Rubrik during the 4th quarter worth approximately $39,000. Point72 Hong Kong Ltd purchased a new stake in Rubrik during the 4th quarter worth approximately $47,000. Finally, Quarry LP purchased a new position in Rubrik in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds 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.