Rubrik (NYSE:RBRK) Price Target Raised to $52.00

Rubrik (NYSE:RBRK) had its target price raised by Guggenheim from $48.00 to $52.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial raised their target price on shares of Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company lowered their target price on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. CIBC increased their price target on shares of Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. Citigroup increased their price target on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $46.71.

Rubrik Price Performance

Shares of Rubrik stock opened at $51.19 on Tuesday. The company’s 50-day moving average price is $38.27 and its 200-day moving average price is $34.82. Rubrik has a 12-month low of $28.34 and a 12-month high of $51.58.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share 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 analyst estimates of $195.58 million. Equities analysts forecast that Rubrik will post -8.04 earnings per share for the current year.

Insider Activity at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the transaction, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at approximately $15,496,437.60. This trade represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,312 shares of company stock worth $17,657,062 over the last quarter.

Institutional Investors Weigh In On Rubrik

Several hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after acquiring an additional 7,029 shares in the last quarter. Geode Capital Management LLC boosted its stake in Rubrik by 133.3% during the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock worth $18,290,000 after acquiring an additional 324,951 shares in the last quarter. XTX Topco Ltd bought a new stake in Rubrik during the third quarter worth about $571,000. State Street Corp boosted its stake in Rubrik by 368.9% during the third quarter. State Street Corp now owns 421,096 shares of the company’s stock worth $13,538,000 after acquiring an additional 331,296 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Rubrik by 407.7% during the third quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock worth $2,204,000 after acquiring an additional 55,062 shares in the last quarter.

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.