Rubrik (NYSE:RBRK) Upgraded by Oppenheimer to Outperform Rating

Rubrik (NYSE:RBRK) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $85.00 price objective on the stock. Oppenheimer’s target price would suggest a potential upside of 32.26% from the company’s current price.

A number of other brokerages also recently issued reports on RBRK. Wolfe Research started coverage on shares of Rubrik in a report on Friday, May 1st. They issued an “outperform” rating and a $70.00 price target on the stock. Scotiabank set a $70.00 price target on Rubrik and gave the company a “sector outperform” rating in a research note on Monday, April 20th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $110.00 price target on shares of Rubrik in a research note on Monday, March 16th. Piper Sandler restated an “overweight” rating and issued a $84.00 price target (down from $99.00) on shares of Rubrik in a research report on Friday, March 13th. Finally, Wedbush lowered their price target on shares of Rubrik from $120.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.84.

Rubrik Trading Down 1.1%

Shares of RBRK opened at $64.27 on Wednesday. The firm’s 50-day moving average price is $53.51 and its 200-day moving average price is $62.59. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of -36.31 and a beta of 0.63. Rubrik has a 1-year low of $42.25 and a 1-year high of $103.00.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, March 12th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.15. The company had revenue of $377.68 million for the quarter, compared to the consensus estimate of $342.43 million. During the same period in the previous year, the firm posted ($0.18) EPS. The company’s revenue for the quarter was up 46.3% on a year-over-year basis. Rubrik has set its Q1 2027 guidance at -0.040–0.020 EPS and its FY 2027 guidance at 0.070-0.270 EPS. On average, research analysts forecast that Rubrik will post -1.41 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $51.69, for a total value of $1,033,800.00. Following the completion of the sale, the chief financial officer owned 549,901 shares in the company, valued at approximately $28,424,382.69. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark D. Mclaughlin bought 10,638 shares of the stock in a transaction dated Monday, March 30th. The stock was purchased at an average price of $47.21 per share, with a total value of $502,219.98. Following the acquisition, the director directly owned 13,639 shares in the company, valued at approximately $643,897.19. The trade was a 354.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 183,113 shares of company stock worth $9,076,797. 13.66% of the stock is currently owned by insiders.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio grew its stake in Rubrik by 90.8% in the 3rd quarter. Strs Ohio now owns 62,300 shares of the company’s stock worth $5,124,000 after acquiring an additional 29,649 shares in the last quarter. WCM Investment Management LLC bought a new stake in Rubrik during the 3rd quarter valued at $4,717,000. ARK Investment Management LLC raised its position in Rubrik by 21.1% during the 3rd quarter. ARK Investment Management LLC now owns 319,112 shares of the company’s stock valued at $26,247,000 after purchasing an additional 55,500 shares in the last quarter. Citigroup Inc. raised its position in Rubrik by 210.2% during the 3rd quarter. Citigroup Inc. now owns 104,041 shares of the company’s stock valued at $8,557,000 after purchasing an additional 70,504 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Rubrik by 471.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 50,614 shares of the company’s stock valued at $4,181,000 after purchasing an additional 41,756 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).