Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Rubrik (NYSE:RBRK) had its target price lifted by Piper Sandler from $83.00 to $87.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Wedbush lifted their price target on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets lifted their price target on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a report on Friday. William Blair started coverage on shares of Rubrik in a report on Friday, February 7th. They issued a “market perform” rating on the stock. KeyCorp lifted their price target on shares of Rubrik from $75.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Citigroup lifted their price target on shares of Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $69.78.

Rubrik Stock Performance

Shares of RBRK stock opened at $70.54 on Friday. Rubrik has a one year low of $28.34 and a one year high of $80.00. The company’s fifty day moving average price is $68.20 and its 200-day moving average price is $53.27.

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

Insider Buying and Selling

In related news, Director John Wendell Thompson sold 9,009 shares of Rubrik stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.18, for a total transaction of $569,188.62. Following the completion of the transaction, the director now directly owns 998 shares of the company’s stock, valued at approximately $63,053.64. The trade was a 90.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of Rubrik stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares of the company’s stock, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock valued at $41,583,311.

Institutional Investors Weigh In On Rubrik

Large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the 3rd quarter valued at about $25,000. Russell Investments Group Ltd. purchased a new stake in Rubrik in the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted its position 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 period. Nemes Rush Group LLC purchased a new stake in Rubrik in the 4th quarter valued at about $39,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Rubrik in the 4th quarter valued at about $47,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

Rubrik Company Profile

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.