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

Rubrik (NYSE:RBRK) had its price target raised by Wells Fargo & Company from $76.00 to $80.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently weighed in on RBRK. William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Robert W. Baird reduced their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. BMO Capital Markets increased their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler boosted their price objective on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Barclays increased their target price on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $69.78.

Rubrik Stock Up 27.6 %

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

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) 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. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.59) EPS. As a group, equities analysts expect that Rubrik will post -7.66 earnings per share for the current year.

Insider Activity at Rubrik

In related news, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $11,828.43. This represents a 94.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 32,499 shares of Rubrik stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $67.66, for a total transaction of $2,198,882.34. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in shares of Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock worth $11,595,000 after buying an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Rubrik in the third quarter valued at approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rubrik by 24.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock valued at $7,998,000 after acquiring an additional 49,372 shares during the period. Renaissance Capital LLC boosted its position in Rubrik by 21.2% in the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock worth $4,757,000 after purchasing an additional 12,714 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Rubrik during the 3rd quarter worth approximately $336,000. 49.54% of the stock is owned by institutional investors and hedge funds.

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.