Rubrik, Inc. (NYSE:RBRK) Receives $68.83 Consensus Target Price from Analysts

Shares of Rubrik, Inc. (NYSE:RBRK) have received a consensus recommendation of “Buy” from the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.83.

Several analysts have recently issued reports on RBRK shares. UBS Group reaffirmed a “buy” rating on shares of Rubrik in a report on Tuesday, April 29th. Guggenheim boosted their price objective on Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, March 12th. BMO Capital Markets upped their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Finally, KeyCorp dropped their target price on Rubrik from $82.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total transaction of $124,060.00. Following the transaction, the chief financial officer now directly owns 614,798 shares in the company, valued at approximately $38,135,919.94. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the transaction, the director now directly owns 153 shares in the company, valued at $11,828.43. The trade was a 94.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 546,117 shares of company stock valued at $36,491,888.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new position in shares of Rubrik during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new position in shares of Rubrik in the first quarter valued at approximately $30,000. Global Retirement Partners LLC increased its holdings in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Rubrik during the fourth quarter worth approximately $39,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik during the fourth quarter worth $47,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Stock Up 0.4%

Shares of RBRK stock opened at $76.87 on Monday. The firm has a market capitalization of $14.59 billion and a PE ratio of -5.58. The company has a 50 day moving average price of $64.44 and a 200-day moving average price of $62.83. Rubrik has a 52 week low of $28.34 and a 52 week high of $81.15.

Rubrik (NYSE:RBRK) last issued its quarterly 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 during the quarter, compared to analyst estimates of $233.13 million. During the same period last year, the firm posted ($1.59) EPS. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. Analysts anticipate that Rubrik will post -7.66 earnings per share for the current year.

About Rubrik

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.