BMO Capital Markets Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

by · The Markets Daily

Rubrik (NYSE:RBRK – Free Report) had its price target upped by BMO Capital Markets from $72.00 to $77.00 in a report released on Friday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday. Guggenheim restated a “buy” rating and set a $76.00 price objective on shares of Rubrik in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup upped their price objective on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $69.78.

Check Out Our Latest Research Report on Rubrik

Rubrik Trading Up 27.6 %

Shares of Rubrik stock opened at $70.54 on Friday. The company has a 50-day simple moving average of $68.20 and a two-hundred day simple moving average of $53.27. Rubrik has a one year low of $28.34 and a one year high of $80.00.

Rubrik (NYSE:RBRK – Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $233.13 million. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.59) EPS. As a group, sell-side analysts anticipate that Rubrik will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $62.60, for a total value of $112,680.00. Following the sale, the chief financial officer now owns 342,174 shares in the company, valued at approximately $21,420,092.40. This represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares in the company, valued at approximately $14,229,014.31. This represents a 50.93 % 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 worth $41,583,311.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $115,000. PharVision Advisers LLC purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rubrik by 168.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock valued at $43,610,000 after buying an additional 418,457 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $85,331,000. Finally, Washington Harbour Partners LP purchased a new position in shares of Rubrik during the 4th quarter valued at approximately $4,235,000. Hedge funds and other 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.

See Also