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

Shares of Rubrik, Inc. (NYSE:RBRK) have received an average recommendation of “Buy” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Sixteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $44.65.

A number of brokerages recently commented on RBRK. Guggenheim restated a “buy” rating and set a $48.00 target price on shares of Rubrik in a report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a research note on Tuesday, September 10th. Wells Fargo & Company decreased their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. CIBC lifted their price objective on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird initiated coverage on Rubrik in a research note on Monday, July 15th. They issued an “outperform” rating and a $42.00 price objective for the company.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 45,800 shares of Rubrik stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the transaction, the chief financial officer now owns 448,560 shares of the company’s stock, valued at $17,592,523.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rubrik news, CFO Kiran Kumar Choudary sold 45,800 shares of Rubrik stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $39.22, for a total transaction of $1,796,276.00. Following the transaction, the chief financial officer now owns 448,560 shares of the company’s stock, valued at $17,592,523.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 368,329 shares of company stock valued at $12,241,803 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RBRK. Register Financial Advisors LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $227,000. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $6,730,000. EFG Asset Management North America Corp. acquired a new position in shares of Rubrik in the second quarter valued at approximately $925,000. ARK Investment Management LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $6,043,000. Finally, Cisco Systems Inc. acquired a new position in shares of Rubrik in the second quarter valued at approximately $5,613,000.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $38.87 on Thursday. The business’s 50-day simple moving average is $33.66. Rubrik has a 12-month low of $28.34 and a 12-month high of $40.36.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. On average, sell-side analysts forecast that Rubrik will post -7.95 EPS for the current year.

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.