Rubrik (NYSE:RBRK) Price Target Raised to $77.00

Rubrik (NYSE:RBRK) had its target price hoisted by BMO Capital Markets from $72.00 to $77.00 in a research note published on Friday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.

Several other analysts have also issued reports on RBRK. KeyCorp upped their target price on shares of Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Barclays increased their price target on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Citigroup boosted their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Guggenheim reiterated a “buy” rating and set a $76.00 target price on shares of Rubrik in a research note on Wednesday, February 26th. Finally, Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $69.78.

Rubrik Price Performance

NYSE:RBRK opened at $70.54 on Friday. Rubrik has a one year low of $28.34 and a one year high of $80.00. The firm has a 50-day moving average of $68.27 and a 200-day moving average of $53.78.

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

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the transaction, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total value of $2,000,689.56. Following the sale, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $13,505,393.61. This trade represents a 12.90 % 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.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently modified their holdings of RBRK. Brown Brothers Harriman & Co. bought a new position in Rubrik during the third quarter valued at approximately $25,000. Russell Investments Group Ltd. purchased a new position in Rubrik in the 4th quarter worth $28,000. Global Retirement Partners LLC raised its position in 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 purchasing an additional 500 shares during the period. Nemes Rush Group LLC purchased a new stake in Rubrik during the fourth quarter valued at about $39,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Rubrik in the fourth quarter worth about $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.