Rubrik (NYSE:RBRK) Price Target Raised to $77.00

Rubrik (NYSE:RBRK) had its price target hoisted by BMO Capital Markets from $72.00 to $77.00 in a research report sent to investors on Friday, MarketBeat reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the company. KeyCorp increased their target price on Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Citigroup upped their target price on shares of Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Guggenheim reissued a “buy” rating and set a $76.00 price target on shares of Rubrik in a research report on Wednesday, February 26th. Finally, Mizuho raised their target price on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Rubrik currently has an average rating of “Buy” and an average price target of $69.78.

Rubrik Trading Up 27.6 %

NYSE RBRK opened at $70.54 on Friday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock has a 50 day simple moving average of $68.27 and a two-hundred day simple moving average of $53.78.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.59) EPS. On average, sell-side analysts expect that Rubrik will post -7.66 earnings per share for the current year.

Insider Activity

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 in the last 90 days.

Institutional Trading of Rubrik

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of Rubrik by 6.9% during the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rubrik in the third quarter worth approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rubrik by 24.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after acquiring an additional 49,372 shares during the last quarter. Renaissance Capital LLC grew its position in shares of Rubrik by 21.2% during the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock valued at $4,757,000 after acquiring an additional 12,714 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Rubrik in the 3rd quarter worth $336,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.