Rubrik (NYSE:RBRK) Price Target Increased to $52.00 by Analysts at CIBC

Rubrik (NYSE:RBRK) had its target price upped by CIBC from $50.00 to $52.00 in a research report released on Tuesday morning, Benzinga reports. CIBC currently has an outperformer rating on the stock.

Other research analysts have also issued reports about the stock. Mizuho started coverage on shares of Rubrik in a research report on Monday, May 20th. They set a buy rating and a $46.00 price target on the stock. Piper Sandler started coverage on shares of Rubrik in a research report on Monday, August 19th. They issued an overweight rating and a $42.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $50.00 price objective on shares of Rubrik in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of Rubrik in a research report on Monday, May 20th. They issued a buy rating and a $48.00 price objective on the stock. Finally, Cibc World Mkts raised shares of Rubrik to a strong-buy rating in a research report on Tuesday, May 21st. Fifteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of Buy and a consensus target price of $44.63.

Rubrik Stock Performance

RBRK opened at $31.58 on Tuesday. The firm’s 50-day moving average price is $33.50. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $40.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The company had revenue of $187.32 million for the quarter, compared to the consensus estimate of $171.60 million. Equities research analysts predict that Rubrik will post -7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in Rubrik during the second quarter valued at approximately $227,000. Sei Investments Co. purchased a new position in Rubrik during the second quarter valued at approximately $235,000. PFG Investments LLC purchased a new position in Rubrik during the second quarter valued at approximately $242,000. Natixis Advisors LLC purchased a new position in Rubrik during the second quarter valued at approximately $406,000. Finally, Bank of Montreal Can purchased a new position in Rubrik in the 2nd quarter worth approximately $427,000.

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.