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

Rubrik (NYSE:RBRK) had its price target raised by Guggenheim from $48.00 to $52.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

RBRK has been the subject of a number of other reports. Robert W. Baird upped their target price on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Piper Sandler initiated coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price for the company. CIBC increased their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Finally, Wedbush increased their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $45.65.

Rubrik Price Performance

Shares of RBRK stock opened at $44.20 on Tuesday. Rubrik has a 12-month low of $28.34 and a 12-month high of $45.90. The firm has a fifty day moving average of $37.66 and a 200-day moving average of $34.65.

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

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 493,360 shares of the company’s stock, 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 Securities & Exchange Commission, 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 ninety days, insiders have sold 454,512 shares of company stock valued at $15,813,462.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RBRK. Register Financial Advisors LLC bought a new position in Rubrik in the 2nd quarter valued at about $227,000. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik during the 2nd quarter worth approximately $6,730,000. EFG Asset Management North America Corp. acquired a new position in shares of Rubrik during the 2nd quarter worth approximately $925,000. ARK Investment Management LLC acquired a new position in shares of Rubrik during the 2nd quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. acquired a new position in shares of Rubrik during the 2nd quarter worth approximately $5,613,000.

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.