Rubrik (NYSE:RBRK) PT Raised to $52.00 at CIBC

Rubrik (NYSE:RBRK) had its target price hoisted by research analysts at CIBC from $50.00 to $52.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperformer” rating on the stock. CIBC’s target price would suggest a potential upside of 55.13% from the stock’s current price.

RBRK has been the topic of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Rubrik in a research report on Tuesday. Piper Sandler began coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday. Capital One Financial assumed coverage on shares of Rubrik in a research note on Monday, May 20th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, Citigroup lifted their price target on shares of Rubrik from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Fifteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $44.69.

Rubrik Trading Up 6.1 %

Shares of RBRK stock opened at $33.52 on Tuesday. The company’s 50 day moving average is $33.57. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The company had revenue of $187.32 million for the quarter, compared to analysts’ expectations of $171.60 million. On average, equities research analysts anticipate that Rubrik will post -7.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC acquired a new stake in Rubrik in the second quarter worth about $47,523,000. Clearbridge Investments LLC purchased a new position in shares of Rubrik in the second quarter worth about $32,888,000. EPIQ Capital Group LLC purchased a new position in shares of Rubrik in the second quarter worth about $15,111,000. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik in the second quarter worth about $6,730,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Rubrik in the second quarter worth about $6,287,000.

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.