Rubrik (NYSE:RBRK) Price Target Raised to $125.00

Rubrik (NYSE:RBRK) had its price objective raised by CIBC from $110.00 to $125.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperformer rating on the stock.

Several other research analysts have also recently weighed in on RBRK. Piper Sandler cut their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Guggenheim boosted their price objective on Rubrik from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. KeyCorp reissued an “overweight” rating and issued a $113.00 price objective (up previously from $98.00) on shares of Rubrik in a research report on Friday, June 6th. UBS Group reissued a “buy” rating on shares of Rubrik in a research report on Friday, June 6th. Finally, Rosenblatt Securities boosted their price objective on Rubrik from $82.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Rubrik Trading Up 1.5%

Shares of Rubrik stock opened at $88.84 on Monday. The stock has a fifty day simple moving average of $77.27 and a 200 day simple moving average of $70.10. Rubrik has a 12-month low of $28.34 and a 12-month high of $103.00. The company has a market capitalization of $16.86 billion, a P/E ratio of -31.39 and a beta of 0.87.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.17. The company had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same quarter last year, the company posted ($1.58) EPS. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,477 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $99.83, for a total value of $3,242,178.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $62.03, for a total value of $124,060.00. Following the completion of the transaction, the chief financial officer now owns 614,798 shares in the company, valued at $38,135,919.94. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 687,609 shares of company stock valued at $52,962,668. Corporate insiders own 32.38% of the company’s stock.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in Rubrik in the 4th quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Rubrik in the 1st quarter worth about $30,000. Global Retirement Partners LLC increased its stake 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 acquiring an additional 500 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Rubrik during the 1st quarter valued at about $31,000. Finally, Comerica Bank raised its holdings in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.