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

by · The Cerbat Gem

Rubrik (NYSE:RBRK – Free Report) had its price objective upped by Wedbush from $75.00 to $80.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler lifted their price target on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Rubrik in a research note on Friday. Barclays boosted their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird cut their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $69.78.

View Our Latest Stock Analysis on RBRK

Rubrik Trading Up 27.6 %

RBRK stock opened at $70.54 on Friday. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00. The business has a 50-day simple moving average of $68.20 and a two-hundred day simple moving average of $53.27.

Rubrik (NYSE:RBRK – Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (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 analyst estimates of $233.13 million. The business’s revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.59) EPS. On average, equities research analysts anticipate that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,505,393.61. The trade was a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total transaction of $287,406.82. Following the sale, the chief financial officer now directly owns 345,374 shares in the company, valued at $24,984,355.16. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock valued at $41,583,311 in the last 90 days.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. Norges Bank bought a new position in shares of Rubrik in the fourth quarter worth $277,395,000. FMR LLC increased its holdings in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock worth $213,199,000 after purchasing an additional 2,065,444 shares during the period. First Trust Advisors LP increased its holdings in shares of Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock worth $206,278,000 after purchasing an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after purchasing an additional 427,149 shares during the period. Institutional investors own 49.54% of the company’s stock.

Rubrik Company Profile

(Get Free Report)

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.

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