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

Shares of Rubrik, Inc. (NYSE:RBRK) have been given an average rating of “Buy” by the twenty-two analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $68.83.

RBRK has been the subject of several recent research reports. Citigroup upped their price target on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. UBS Group reissued a “buy” rating on shares of Rubrik in a research report on Tuesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Rubrik in a research report on Friday, March 14th. Finally, Wells Fargo & Company lifted their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th.

Insiders Place Their Bets

In other news, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the sale, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. This represents a 38.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares of the company’s stock, valued at $9,720,811.80. This trade represents a 14.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,117 shares of company stock worth $36,491,888 over the last quarter.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Rubrik by 140.6% during the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after purchasing an additional 7,029 shares during the last quarter. Green Alpha Advisors LLC bought a new position in shares of Rubrik in the fourth quarter worth approximately $346,000. Hamilton Lane Advisors LLC boosted its holdings in shares of Rubrik by 3.0% during the fourth quarter. Hamilton Lane Advisors LLC now owns 34,026 shares of the company’s stock worth $2,224,000 after purchasing an additional 980 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after purchasing an additional 300 shares during the period. Finally, Shikiar Asset Management Inc. bought a new stake in shares of Rubrik in the 4th quarter worth approximately $203,000. 49.54% of the stock is currently owned by institutional investors.

Rubrik Trading Up 0.4%

RBRK opened at $76.87 on Monday. The company has a market cap of $14.59 billion and a price-to-earnings ratio of -5.58. The company’s fifty day moving average price is $64.44 and its two-hundred day moving average price is $62.83. Rubrik has a 1-year low of $28.34 and a 1-year high of $81.15.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates 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. Rubrik’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.59) EPS. As a group, equities analysts forecast that Rubrik will post -7.66 earnings per share for the current fiscal 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.