Rubrik, Inc. (NYSE:RBRK) Receives $47.12 Consensus Price Target from Brokerages

Rubrik, Inc. (NYSE:RBRK) has been given a consensus recommendation of “Buy” by the nineteen research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $60.59.

Several research firms have recently commented on RBRK. Cantor Fitzgerald upped their price target on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays upped their target price on shares of Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird boosted their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup increased their price objective on Rubrik from $48.00 to $75.00 and gave the stock a “buy” rating in a report on Friday. Finally, FBN Securities started coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 51,924 shares of Rubrik stock in a transaction on 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 completion of the sale, the chief financial officer now owns 493,360 shares of the company’s stock, valued at $15,496,437.60. This trade represents a 9.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the transaction, the insider now directly owns 56,736 shares in the company, valued at $1,857,536.64. This trade represents a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 574,912 shares of company stock worth $22,673,114.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of the company. Diversified Trust Co purchased a new stake in shares of Rubrik during the 3rd quarter worth about $432,000. Davidson Kempner Capital Management LP acquired a new position in Rubrik in the second quarter worth approximately $2,606,000. Bank of Montreal Can bought a new position in Rubrik during the second quarter valued at approximately $427,000. Penserra Capital Management LLC acquired a new stake in Rubrik in the third quarter valued at approximately $35,359,000. Finally, Natixis Advisors LLC grew its position in Rubrik by 302.5% in the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after acquiring an additional 40,036 shares in the last quarter.

Rubrik Stock Performance

Rubrik stock opened at $64.63 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $72.66. The firm’s 50-day moving average is $42.65 and its 200-day moving average is $36.20.

Rubrik (NYSE:RBRK) last issued its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, equities research analysts forecast that Rubrik will post -8.04 earnings per share for the current year.

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.