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

Rubrik (NYSE:RBRK) had its target price boosted by investment analysts at Guggenheim from $76.00 to $80.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 12.99% from the company’s current price.

Several other equities analysts have also issued reports on RBRK. Wells Fargo & Company upped their price target on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Piper Sandler upped their price target on Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Rubrik in a research note on Friday, March 14th. Truist Financial increased their price target on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, William Blair started coverage on Rubrik in a research report on Friday, February 7th. They issued a “market perform” rating on the stock. Two 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $70.00.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $70.80 on Tuesday. The business’s fifty day moving average price is $68.59 and its two-hundred day moving average price is $54.40. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock has a market capitalization of $13.12 billion and a price-to-earnings ratio of -5.14.

Rubrik (NYSE:RBRK) last posted 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 the consensus estimate of $233.13 million. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.59) earnings per share. Research analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s 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 completion of the sale, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $68.03, for a total value of $122,454.00. Following the sale, the chief financial officer now owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 618,254 shares of company stock worth $40,985,299.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of RBRK. Brown Brothers Harriman & Co. acquired a new position in Rubrik in the 3rd quarter worth about $25,000. Russell Investments Group Ltd. bought a new stake in shares of Rubrik in the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted its position in shares of Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new stake in shares of Rubrik during the 4th quarter valued at about $39,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Rubrik during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.