Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Rubrik (NYSE:RBRK) had its price target raised by stock analysts at Robert W. Baird from $42.00 to $48.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 12.70% from the stock’s previous close.

A number of other brokerages have also recently commented on RBRK. Wedbush lifted their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. FBN Securities started coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price for the company. BMO Capital Markets decreased their price target on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price objective on shares of Rubrik in a research note on Tuesday, September 10th. Finally, Truist Financial reiterated a “buy” rating and set a $43.00 price target on shares of Rubrik in a report on Tuesday, September 10th. Sixteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.00.

Rubrik Stock Performance

NYSE RBRK opened at $42.59 on Thursday. The business has a 50 day moving average price of $34.95. Rubrik has a 1 year low of $28.34 and a 1 year high of $43.95.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. As a group, research analysts forecast that Rubrik will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares in the company, valued at $16,668,564. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 391,412 shares of company stock worth $13,162,625 in the last quarter.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Quent Capital LLC purchased a new position in shares of Rubrik in the 3rd quarter worth $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the third quarter worth approximately $208,000. Register Financial Advisors LLC purchased a new stake in Rubrik during the second quarter valued at approximately $227,000. Sei Investments Co. bought a new position in Rubrik in the second quarter worth approximately $235,000. Finally, PFG Investments LLC bought a new stake in shares of Rubrik during the 2nd quarter valued at $242,000.

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.