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

Rubrik (NYSE:RBRK) had its target price upped by Guggenheim from $76.00 to $80.00 in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on RBRK. Citigroup increased their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Barclays increased their price objective on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Wedbush boosted their target price on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $70.00.

Rubrik Stock Performance

Shares of RBRK opened at $70.20 on Tuesday. Rubrik has a 1 year low of $28.34 and a 1 year high of $80.00. The stock has a market capitalization of $13.00 billion and a PE ratio of -5.09. The stock has a 50-day simple moving average of $68.73 and a 200-day simple moving average of $54.51.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. During the same period in the prior year, the company earned ($1.59) EPS. The firm’s revenue was up 47.5% compared to the same quarter last year. Analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $62.60, for a total value of $112,680.00. Following the sale, the chief financial officer now owns 342,174 shares of the company’s stock, valued at $21,420,092.40. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at $14,229,014.31. This represents a 50.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,254 shares of company stock valued at $41,195,389 in the last ninety days.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. KBC Group NV acquired a new stake in Rubrik in the third quarter valued at $72,000. Natixis Advisors LLC increased its holdings in shares of Rubrik by 302.5% in the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock valued at $1,713,000 after purchasing an additional 40,036 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Rubrik in the third quarter valued at about $243,000. Charles Schwab Investment Management Inc. grew its position in Rubrik by 134.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after buying an additional 186,485 shares during the period. Finally, Champlain Investment Partners LLC purchased a new position in Rubrik in the third quarter valued at about $44,418,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.