Guggenheim Increases Rubrik (NYSE:RBRK) Price Target to $52.00

Rubrik (NYSE:RBRK) had its price objective raised by investment analysts at Guggenheim from $48.00 to $52.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 15.15% from the stock’s current price.

RBRK has been the topic of a number of other reports. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating for the company. BMO Capital Markets lowered their price target on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Finally, Wedbush lifted their price target on shares of Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $46.18.

Rubrik Stock Up 2.1 %

Shares of NYSE RBRK opened at $45.16 on Tuesday. The company has a 50-day moving average of $37.90 and a 200 day moving average of $34.72. Rubrik has a 12-month low of $28.34 and a 12-month high of $45.90.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. As a group, research analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kiran Kumar Choudary sold 51,924 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.41, for a total transaction of $1,630,932.84. Following the completion of the sale, the chief financial officer now directly owns 493,360 shares of the company’s stock, valued at $15,496,437.60. This trade represents a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 454,512 shares of company stock valued at $15,813,462 over the last 90 days.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after acquiring an additional 7,029 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Rubrik by 133.3% in the third quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after buying an additional 324,951 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Rubrik in the third quarter valued at about $571,000. State Street Corp raised its holdings in Rubrik by 368.9% during the 3rd quarter. State Street Corp now owns 421,096 shares of the company’s stock worth $13,538,000 after purchasing an additional 331,296 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Rubrik by 407.7% during the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock worth $2,204,000 after buying an additional 55,062 shares during the period.

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.