Brokerages Set Rubrik, Inc. (NYSE:RBRK) Price Target at $77.69

Rubrik, Inc. (NYSE:RBRK) has been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $77.69.

Several equities analysts recently weighed in on RBRK shares. Rosenblatt Securities upgraded shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, March 12th. Robert W. Baird cut 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. Wall Street Zen downgraded Rubrik from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. BMO Capital Markets increased their target price on Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, Mizuho lowered Rubrik from an “outperform” rating to a “neutral” rating and increased their target price for the company from $75.00 to $86.00 in a research note on Thursday, May 15th.

Rubrik Stock Down 0.2%

Shares of RBRK opened at $98.37 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $101.80. The firm has a market capitalization of $18.67 billion and a PE ratio of -7.14. The stock’s fifty day simple moving average is $74.56 and its 200-day simple moving average is $68.88.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. During the same quarter in the previous year, the company posted ($1.58) earnings per share. The business’s revenue for the quarter was up 48.7% on a year-over-year basis. Analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the sale, the chief technology officer now owns 186,795 shares of the company’s stock, valued at approximately $9,720,811.80. This trade represents a 14.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the executive now directly owns 331,043 shares in the company, valued at approximately $23,173,010. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 630,609 shares of company stock worth $47,251,008. Company insiders own 32.38% of the company’s stock.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in Rubrik in the 1st quarter valued at $30,000. Global Retirement Partners LLC increased its stake in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Rubrik in the 1st quarter valued at $31,000. Finally, Comerica Bank increased its stake in Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after buying an additional 395 shares during the last quarter. 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.