Rubrik (NYSE:RBRK) Price Target Cut to $44.00

Rubrik (NYSE:RBRK) had its price target decreased by stock analysts at Wedbush from $50.00 to $44.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price would indicate a potential upside of 31.26% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. KeyCorp upped their price target on shares of Rubrik from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Cibc World Mkts upgraded Rubrik to a “strong-buy” rating in a research note on Tuesday, May 21st. BMO Capital Markets lowered their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday. Truist Financial initiated coverage on Rubrik in a research report on Monday, May 20th. They set a “buy” rating and a $43.00 target price for the company. Finally, Citigroup boosted their price target on Rubrik from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Fifteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $44.69.

Rubrik Price Performance

Shares of RBRK opened at $33.52 on Tuesday. The stock has a 50-day moving average of $33.57. Rubrik has a 52 week low of $28.34 and a 52 week high of $40.00.

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

Institutional Trading of Rubrik

A number of large investors have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in shares of Rubrik in the 2nd quarter valued at about $227,000. Sei Investments Co. bought a new stake in shares of Rubrik in the 2nd quarter valued at approximately $235,000. PFG Investments LLC purchased a new position in shares of Rubrik in the 2nd quarter worth approximately $242,000. Natixis Advisors LLC bought a new position in shares of Rubrik during the 2nd quarter valued at approximately $406,000. Finally, Bank of Montreal Can purchased a new stake in Rubrik during the 2nd quarter valued at $427,000.

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.