Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Guggenheim Analyst Says

Rubrik (NYSE:RBRK) had its price objective boosted by analysts at Guggenheim from $76.00 to $80.00 in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 12.99% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Piper Sandler upped their target price on shares of Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Truist Financial increased their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Citigroup raised their price target on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, Mizuho increased their price objective on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. 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 company. According to MarketBeat, Rubrik currently has a consensus rating of “Buy” and an average target price of $70.00.

Rubrik Stock Up 1.1 %

NYSE:RBRK opened at $70.80 on Tuesday. The stock has a market cap of $13.12 billion and a PE ratio of -5.14. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The firm’s fifty day simple moving average is $68.59 and its 200-day simple moving average is $54.40.

Rubrik (NYSE:RBRK) last issued 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 company had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The company’s revenue was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.59) earnings per share. Equities analysts anticipate that Rubrik will post -7.66 earnings per share for the current year.

Insider Buying and Selling at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction 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. The trade was a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the transaction, the executive now directly owns 331,043 shares in the company, valued at approximately $23,173,010. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 618,254 shares of company stock worth $40,985,299.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in Rubrik during the 4th quarter valued at about $277,395,000. Vanguard Group Inc. lifted its holdings in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock worth $413,610,000 after purchasing an additional 3,372,323 shares during the last quarter. FMR LLC lifted its holdings in Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Rubrik during the third quarter worth approximately $44,418,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Rubrik during the third quarter worth approximately $42,247,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.