Rubrik, Inc. (NYSE:RBRK) Receives $68.83 Average Price Target from Analysts

Rubrik, Inc. (NYSE:RBRK) has been given a consensus recommendation of “Buy” by the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $68.83.

A number of brokerages have recently commented on RBRK. KeyCorp lowered their price target on Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Piper Sandler cut their target price on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets lifted their price target 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. Guggenheim upped their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company lifted their target price on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th.

Rubrik Stock Performance

Shares of RBRK stock opened at $76.87 on Monday. The firm’s 50 day moving average price is $64.44 and its two-hundred day moving average price is $62.49. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00. The stock has a market cap of $14.59 billion and a PE ratio of -5.58.

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

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $62.03, for a total value of $124,060.00. Following the completion of the transaction, the chief financial officer now directly owns 614,798 shares in the company, valued at $38,135,919.94. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $75.20, for a total value of $2,442,796.80. Following the transaction, the chief technology officer now directly owns 24,375 shares in the company, valued at $1,833,000. This trade represents a 57.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 546,117 shares of company stock valued at $36,491,888 over the last 90 days.

Institutional Trading of Rubrik

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Rubrik in the 4th quarter valued at about $277,395,000. Vanguard Group Inc. raised its stake in Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after buying an additional 3,372,323 shares during the period. FMR LLC raised its stake in Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $85,331,000. Finally, Bank of America Corp DE boosted its stake in shares of Rubrik by 1,305.1% during the 4th quarter. Bank of America Corp DE now owns 1,116,804 shares of the company’s stock worth $72,994,000 after acquiring an additional 1,037,319 shares during the period. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.