Rubrik (NYSE:RBRK) Price Target Raised to $68.00

Rubrik (NYSE:RBRK) had its target price lifted by Mizuho from $47.00 to $68.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. Guggenheim raised their price target on Rubrik from $52.00 to $72.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald raised their target price on Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer began coverage on Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. Barclays raised their price objective on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Robert W. Baird boosted their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $61.88.

Rubrik Price Performance

NYSE:RBRK opened at $69.81 on Monday. The company’s 50 day moving average is $43.40 and its 200-day moving average is $36.46. Rubrik has a 12 month low of $28.34 and a 12 month high of $72.66.

Rubrik (NYSE:RBRK) last posted its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Sell-side analysts forecast that Rubrik will post -8.04 EPS for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 104,672 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the sale, the executive now directly owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 574,912 shares of company stock valued at $22,673,114.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RBRK. Zweig DiMenna Associates LLC bought a new position in shares of Rubrik in the second quarter valued at about $6,730,000. EFG Asset Management North America Corp. bought a new position in shares of Rubrik in the second quarter worth about $925,000. ARK Investment Management LLC bought a new stake in shares of Rubrik during the second quarter valued at approximately $6,043,000. Cisco Systems Inc. bought a new stake in shares of Rubrik during the second quarter valued at approximately $5,613,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Rubrik in the second quarter valued at approximately $503,000. 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.