Rubrik, Inc. (NYSE:RBRK) Receives Consensus Recommendation of “Buy” from Brokerages

Rubrik, Inc. (NYSE:RBRK) has been assigned a consensus rating of “Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $45.13.

Several equities analysts have recently commented on RBRK shares. The Goldman Sachs Group assumed coverage on shares of Rubrik in a report on Monday, May 20th. They issued a “buy” rating and a $48.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a report on Monday, August 19th. Wells Fargo & Company assumed coverage on Rubrik in a research note on Monday, May 20th. They set an “overweight” rating and a $42.00 target price on the stock. Robert W. Baird initiated coverage on Rubrik in a research report on Monday, July 15th. They issued an “outperform” rating and a $42.00 target price for the company. Finally, Barclays increased their price target on shares of Rubrik from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $35.39 on Wednesday. The stock’s 50 day moving average price is $32.91. Rubrik has a 12 month low of $28.34 and a 12 month high of $40.00.

Rubrik (NYSE:RBRK) last posted its earnings results on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The firm had revenue of $187.32 million during the quarter, compared to analysts’ expectations of $171.60 million. As a group, analysts forecast that Rubrik will post -7.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC acquired a new position in Rubrik in the 2nd quarter valued at $47,523,000. Clearbridge Investments LLC acquired a new stake in shares of Rubrik in the 2nd quarter worth $32,888,000. EPIQ Capital Group LLC purchased a new stake in shares of Rubrik in the second quarter valued at about $15,111,000. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik during the second quarter worth about $6,730,000. Finally, Ensign Peak Advisors Inc purchased a new position in Rubrik during the second quarter worth about $6,287,000.

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.