Rubrik (NYSE:RBRK) Given New $70.00 Price Target at Cantor Fitzgerald

Rubrik (NYSE:RBRK) had its price objective boosted by equities researchers at Cantor Fitzgerald from $58.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 8.31% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Wedbush boosted their target price on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Oppenheimer assumed coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Robert W. Baird raised their target price on shares of Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays lifted their price target on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, KeyCorp increased their price objective on shares of Rubrik from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $60.59.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $64.63 on Friday. The firm has a fifty day simple moving average of $42.65 and a two-hundred day simple moving average of $36.18. Rubrik has a 52 week low of $28.34 and a 52 week high of $72.66.

Rubrik (NYSE:RBRK) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $195.58 million. On average, equities research analysts predict that Rubrik will post -8.04 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. Insiders have sold 574,912 shares of company stock worth $22,673,114 in the last ninety days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik during the 3rd quarter worth approximately $25,000. KBC Group NV purchased a new position in Rubrik in the third quarter worth $72,000. Quent Capital LLC acquired a new position in shares of Rubrik during the third quarter worth $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik during the third quarter worth $208,000. Finally, Sei Investments Co. purchased a new stake in shares of Rubrik during the 2nd quarter valued at $235,000.

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.