KeyCorp Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price lifted by research analysts at KeyCorp from $48.00 to $57.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 11.66% from the stock’s previous close.

RBRK has been the topic of a number of other research reports. Barclays boosted their price target on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial upped their price target on shares of Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. CIBC upped their target price on Rubrik from $50.00 to $52.00 and gave the company an “outperformer” rating in a research report on Tuesday, September 10th. Finally, Wedbush lifted their target price on Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.71.

Rubrik Stock Performance

NYSE RBRK opened at $51.05 on Friday. Rubrik has a twelve month low of $28.34 and a twelve month high of $51.58. The stock has a fifty day simple moving average of $38.68 and a 200 day simple moving average of $34.94.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. Research analysts predict that Rubrik will post -8.04 EPS for the current year.

Insider Activity at Rubrik

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.41, for a total value of $1,630,932.84. Following the completion of the sale, the chief financial officer now owns 493,360 shares in the company, valued at $15,496,437.60. This represents a 9.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction dated 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. In the last quarter, insiders have sold 491,312 shares of company stock valued at $17,657,062.

Institutional Investors Weigh In On Rubrik

A number of institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. bought a new position in Rubrik in the 3rd quarter valued at $25,000. KBC Group NV purchased a new position in shares of Rubrik in the 3rd quarter worth about $72,000. Quent Capital LLC bought a new position in Rubrik during the third quarter valued at about $192,000. Mount Yale Investment Advisors LLC purchased a new stake in Rubrik during the third quarter worth about $208,000. Finally, Register Financial Advisors LLC bought a new stake in Rubrik in the second quarter worth about $227,000.

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.