Rubrik’s (RBRK) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Rubrik (NYSE:RBRK) in a research report released on Friday,Benzinga reports. The brokerage currently has a $85.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Citigroup increased their price objective on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Robert W. Baird decreased their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BMO Capital Markets raised their target price on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, William Blair assumed coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.78.

Rubrik Trading Up 27.6 %

Shares of RBRK stock opened at $70.54 on Friday. The business’s 50 day moving average is $68.27 and its two-hundred day moving average is $53.78. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. Rubrik’s revenue was up 47.5% on a year-over-year basis. During the same period last year, the company posted ($1.59) earnings per share. As a group, research analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the transaction, the chief financial officer now directly owns 343,774 shares in the company, valued at approximately $23,386,945.22. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now directly owns 153 shares in the company, valued at $11,828.43. This trade represents a 94.23 % decrease in their position. 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.

Hedge Funds Weigh In On Rubrik

Several large investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC raised its position in shares of Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after acquiring an additional 300 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Rubrik during the fourth quarter worth about $28,000. KBC Group NV grew its position in shares of Rubrik by 19.1% during the 4th quarter. KBC Group NV now owns 2,679 shares of the company’s stock worth $175,000 after buying an additional 430 shares during the period. Global Retirement Partners LLC increased its stake in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Finally, Nemes Rush Group LLC bought a new position in Rubrik during the 4th quarter worth approximately $39,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.