Rubrik, Inc. (NYSE:RBRK) Receives $69.78 Average Price Target from Analysts

Rubrik, Inc. (NYSE:RBRK) has been assigned a consensus recommendation of “Buy” from the twenty-one research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $70.00.

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Mizuho upped their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Barclays lifted their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Piper Sandler raised their price target on shares of Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Wedbush lifted their price target on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 14th.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction on 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 of the company’s stock, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the sale, the director now directly owns 153 shares of the company’s stock, valued at approximately $11,828.43. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 618,254 shares of company stock valued at $40,985,299 in the last three months.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the third quarter worth approximately $25,000. Russell Investments Group Ltd. purchased a new stake in Rubrik in the 4th quarter valued at $28,000. Global Retirement Partners LLC boosted its stake in Rubrik by 8,333.3% during the 4th 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 period. Nemes Rush Group LLC acquired a new position in Rubrik in the fourth quarter valued at $39,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Rubrik in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Stock Down 1.2 %

RBRK stock opened at $70.00 on Friday. The firm has a 50-day simple moving average of $68.43 and a 200-day simple moving average of $54.29. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00. The stock has a market capitalization of $12.97 billion and a P/E ratio of -5.08.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) EPS 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 last year, the firm posted ($1.59) EPS. The company’s revenue was up 47.5% compared to the same quarter last year. On average, analysts expect that Rubrik will post -7.66 earnings per share for the current year.

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.