Rubrik (NYSE:RBRK) Price Target Raised to $48.00 at Citigroup

Rubrik (NYSE:RBRK) had its target price hoisted by Citigroup from $47.00 to $48.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Baird R W upgraded shares of Rubrik to a strong-buy rating in a research note on Monday, July 15th. KeyCorp boosted their price objective on shares of Rubrik from $46.00 to $48.00 and gave the stock an overweight rating in a report on Wednesday, June 12th. Cantor Fitzgerald reiterated an overweight rating and set a $50.00 target price on shares of Rubrik in a research note on Tuesday. The Goldman Sachs Group initiated coverage on Rubrik in a research note on Monday, May 20th. They issued a buy rating and a $48.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on Rubrik from $42.00 to $40.00 and set an overweight rating on the stock in a research report on Tuesday. Fifteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $44.69.

Rubrik Price Performance

RBRK stock opened at $33.52 on Wednesday. The company’s 50 day moving average is $33.57. Rubrik has a twelve month low of $28.34 and a twelve month high of $40.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) earnings per share for the quarter, missing the consensus estimate 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. Equities research analysts forecast that Rubrik will post -7.7 earnings per share for the current fiscal year.

Institutional Trading of Rubrik

Large investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new position in shares of Rubrik during the 2nd quarter worth $227,000. Sei Investments Co. bought a new position in Rubrik in the 2nd quarter worth $235,000. PFG Investments LLC purchased a new position in Rubrik during the second quarter valued at $242,000. Natixis Advisors LLC bought a new stake in Rubrik during the second quarter valued at about $406,000. Finally, Bank of Montreal Can purchased a new stake in Rubrik in the second quarter worth about $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.