Rubrik (NYSE:RBRK) Price Target Raised to $120.00 at Canadian Imperial Bank of Commerce

Rubrik (NYSE:RBRK) had its target price boosted by equities researchers at Canadian Imperial Bank of Commerce from $115.00 to $120.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 31.38% from the company’s previous close.

Several other brokerages also recently commented on RBRK. Wells Fargo & Company raised their target price on Rubrik from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, August 25th. Oppenheimer set a $120.00 price target on Rubrik in a report on Thursday, August 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Rubrik in a research note on Wednesday, August 19th. Loop Capital began coverage on Rubrik in a report on Monday, August 3rd. They set a “buy” rating and a $100.00 price objective for the company. Finally, Telsey Advisory Group set a $120.00 target price on Rubrik in a research report on Friday. Twenty-nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rubrik presently has a consensus rating of “Moderate Buy” and an average price target of $112.15.

Rubrik Stock Performance

Shares of Rubrik stock traded down $1.71 on Monday, reaching $91.34. 2,405,272 shares of the company’s stock were exchanged, compared to its average volume of 3,769,322. The firm’s 50-day moving average is $84.94 and its two-hundred day moving average is $67.52. The company has a market capitalization of $18.80 billion, a P/E ratio of -72.49 and a beta of 1.17. Rubrik has a 52 week low of $42.25 and a 52 week high of $107.91.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.16. The company had revenue of $427.26 million for the quarter, compared to the consensus estimate of $396.30 million. The firm’s revenue was up 43.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, analysts expect that Rubrik will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 12,820 shares of Rubrik stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $82.16, for a total transaction of $1,053,291.20. Following the completion of the transaction, the chief technology officer owned 314,048 shares in the company, valued at approximately $25,802,183.68. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Wendell Thompson sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $82.65, for a total value of $909,150.00. Following the sale, the director directly owned 8,362 shares of the company’s stock, valued at $691,119.30. This represents a 56.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 111,897 shares of company stock worth $9,221,808 in the last quarter. 13.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP bought a new position in Rubrik during the 2nd quarter valued at $11,613,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rubrik in the 2nd quarter worth $2,810,000. California State Teachers Retirement System grew its stake in shares of Rubrik by 8,477.0% in the 2nd quarter. California State Teachers Retirement System now owns 14,781,716 shares of the company’s stock worth $1,186,676,000 after acquiring an additional 14,609,375 shares in the last quarter. Straight Path Wealth Management purchased a new stake in shares of Rubrik in the second quarter valued at about $323,000. Finally, Wedmont Private Capital raised its holdings in shares of Rubrik by 181.0% in the second quarter. Wedmont Private Capital now owns 16,054 shares of the company’s stock valued at $1,355,000 after purchasing an additional 10,340 shares during the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).