Rubrik (NYSE:RBRK) Price Target Raised to $80.00 at Wedbush

Rubrik (NYSE:RBRK) had its price target hoisted by Wedbush from $75.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 13.41% from the company’s current price.

Several other research firms have also recently issued reports on RBRK. William Blair assumed coverage on Rubrik in a research report on Friday, February 7th. They set a “market perform” rating on the stock. Robert W. Baird lowered their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday. Finally, Barclays upped their price target on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Trading Up 27.6 %

NYSE RBRK opened at $70.54 on Friday. The business’s 50 day moving average is $68.27 and its two-hundred day moving average is $53.64. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00.

Rubrik (NYSE:RBRK) last released its 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 business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter last year, the firm earned ($1.59) EPS. The company’s revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts anticipate that Rubrik will post -7.66 earnings per share for the current year.

Insider Activity at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,505,393.61. This represents a 12.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.15, for a total value of $1,578,750.00. Following the transaction, the executive now directly owns 356,043 shares in the company, valued at approximately $22,484,115.45. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,712 shares of company stock valued at $41,583,311.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the 3rd quarter worth $25,000. Russell Investments Group Ltd. purchased a new position in shares of Rubrik in the 4th quarter worth $28,000. Global Retirement Partners LLC raised its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the period. Nemes Rush Group LLC purchased a new position in shares of Rubrik in the 4th quarter worth $39,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Rubrik in the 4th quarter worth $47,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.