Rubrik (NYSE:RBRK) Price Target Raised to $72.00

Rubrik (NYSE:RBRK) had its price objective raised by Guggenheim from $52.00 to $72.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. FBN Securities began coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective for the company. Truist Financial raised their price objective on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 price objective (up from $42.00) on shares of Rubrik in a research note on Friday. Oppenheimer assumed coverage on shares of Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $60.59.

Rubrik Price Performance

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

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

Insider Buying and Selling at Rubrik

In related news, major shareholder Barry Eggers sold 100,000 shares of Rubrik stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction on 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. Insiders sold a total of 574,912 shares of company stock valued at $22,673,114 in the last ninety days.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently bought and sold shares of the company. Diversified Trust Co acquired a new position in Rubrik in the third quarter worth $432,000. Davidson Kempner Capital Management LP bought a new position in shares of Rubrik in the 2nd quarter worth about $2,606,000. Bank of Montreal Can acquired a new position in shares of Rubrik in the 2nd quarter valued at about $427,000. Penserra Capital Management LLC bought a new stake in shares of Rubrik during the 3rd quarter valued at about $35,359,000. Finally, Natixis Advisors LLC raised its stake in Rubrik by 302.5% during 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 during the period.

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.