Analysts Set Rubrik, Inc. (NYSE:RBRK) Target Price at $69.78

Shares of Rubrik, Inc. (NYSE:RBRK) have been assigned a consensus recommendation of “Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $70.00.

A number of brokerages have issued reports on RBRK. Barclays upped their target price on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler upped their price target on Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company upped their price target on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Truist Financial increased their price target on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Mizuho increased their price target on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction on Friday, March 14th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the executive now owns 331,043 shares of the company’s stock, valued at approximately $23,173,010. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 3,000 shares of Rubrik stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total value of $210,090.00. Following the sale, the director now directly owns 153 shares of the company’s stock, valued at $10,714.59. This represents a 95.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,254 shares of company stock valued at $41,195,389 over the last three months.

Institutional Investors Weigh In On Rubrik

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its stake in Rubrik by 22.1% during the fourth quarter. California State Teachers Retirement System now owns 56,279 shares of the company’s stock valued at $3,678,000 after buying an additional 10,191 shares during the period. Centaurus Financial Inc. bought a new stake in Rubrik during the fourth quarter valued at $115,000. PharVision Advisers LLC bought a new stake in Rubrik during the fourth quarter valued at $202,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rubrik by 168.2% during the fourth 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 during the period. Finally, Voloridge Investment Management LLC purchased a new stake in Rubrik during the fourth quarter valued at about $85,331,000. Institutional investors own 49.54% of the company’s stock.

Rubrik Stock Down 2.9 %

Shares of RBRK opened at $68.15 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00. The business has a 50-day simple moving average of $68.82 and a two-hundred day simple moving average of $54.90. The stock has a market cap of $12.62 billion and a PE ratio of -4.95.

Rubrik (NYSE:RBRK) last issued its 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. During the same period in the previous year, the firm posted ($1.59) earnings per share. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. On average, equities research analysts expect that Rubrik will post -7.66 EPS for the current year.

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.