Cantor Fitzgerald Reaffirms “Overweight” Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 49.16% from the company’s current price.

Several other analysts have also recently weighed in on RBRK. Wedbush reduced their price objective on shares of Rubrik from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday. CIBC assumed coverage on Rubrik in a research report on Tuesday, May 21st. They issued an “outperformer” rating and a $50.00 price target on the stock. Wells Fargo & Company assumed coverage on Rubrik in a research report on Monday, May 20th. They set an “overweight” rating and a $42.00 price objective for the company. Piper Sandler began coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, KeyCorp increased their target price on shares of Rubrik from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Fifteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $44.69.

Rubrik Trading Up 6.1 %

NYSE:RBRK opened at $33.52 on Tuesday. The business’s 50-day moving average price is $33.57. Rubrik has a 1-year low of $28.34 and a 1-year high of $40.00.

Rubrik (NYSE:RBRK) last posted its 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 business had revenue of $187.32 million for the quarter, compared to analysts’ expectations of $171.60 million. As a group, sell-side analysts anticipate that Rubrik will post -7.7 earnings per share for the current year.

Institutional Trading of Rubrik

Large investors have recently made changes to their positions in the company. ARK Investment Management LLC bought a new position in Rubrik in the second quarter worth approximately $6,043,000. Liberty Street Advisors Inc. acquired a new position in shares of Rubrik during the second quarter worth approximately $4,117,000. Roubaix Capital LLC bought a new position in shares of Rubrik in the 2nd quarter worth $2,115,000. EFG Asset Management North America Corp. acquired a new stake in Rubrik in the 2nd quarter valued at $925,000. Finally, Commonwealth Equity Services LLC bought a new stake in Rubrik during the 2nd quarter valued at $503,000.

Rubrik Company Profile

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.