Rubrik (NYSE:RBRK) Price Target Cut to $72.00 by Analysts at Piper Sandler

Rubrik (NYSE:RBRK) had its target price cut by Piper Sandler from $87.00 to $72.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

RBRK has been the topic of a number of other reports. Wells Fargo & Company upped their price target on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Robert W. Baird dropped their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Wednesday, March 12th. Finally, KeyCorp lowered their target price on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Rubrik presently has a consensus rating of “Buy” and an average target price of $69.17.

Rubrik Trading Down 1.1 %

Shares of RBRK stock opened at $52.43 on Tuesday. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00. The stock has a fifty day simple moving average of $66.74 and a two-hundred day simple moving average of $57.56. The stock has a market capitalization of $9.95 billion and a price-to-earnings ratio of -3.81.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.59) earnings per share. Research analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kiran Kumar Choudary sold 1,800 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $66.52, for a total transaction of $119,736.00. Following the sale, the chief financial officer now owns 341,374 shares in the company, valued at $22,708,198.48. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the sale, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. 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 three months, insiders sold 667,334 shares of company stock worth $44,739,736.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Russell Investments Group Ltd. purchased a new stake in Rubrik during the fourth quarter worth approximately $28,000. Global Retirement Partners LLC boosted its position in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares during the period. Nemes Rush Group LLC acquired a new stake in Rubrik in the 4th quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new position in Rubrik in the fourth quarter valued at about $47,000. Finally, Quarry LP acquired a new position in shares of Rubrik during the fourth quarter worth about $48,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.