Rubrik, Inc. (NYSE:RBRK) Receives $45.00 Consensus Target Price from Brokerages

Rubrik, Inc. (NYSE:RBRK) has earned an average rating of “Buy” from the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $45.00.

Several research analysts have issued reports on RBRK shares. FBN Securities began coverage on Rubrik in a research report on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective for the company. Robert W. Baird increased their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler started coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 target price on the stock. Citigroup increased their target price on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets decreased their price target on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th.

Rubrik Stock Performance

Rubrik stock opened at $44.57 on Monday. The business has a 50 day simple moving average of $36.68 and a 200-day simple moving average of $34.34. Rubrik has a 12 month low of $28.34 and a 12 month high of $45.90.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, research analysts anticipate that Rubrik will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive now owns 462,545 shares in the company, valued at $14,486,909.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 444,512 shares of company stock worth $15,368,662 in the last quarter.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new stake in Rubrik during the 3rd quarter worth approximately $432,000. Davidson Kempner Capital Management LP bought a new stake in shares of Rubrik in the second quarter worth $2,606,000. Bank of Montreal Can bought a new stake in shares of Rubrik in the second quarter worth $427,000. ARK Investment Management LLC acquired a new stake in Rubrik in the second quarter valued at $6,043,000. Finally, EPIQ Capital Group LLC bought a new position in Rubrik during the 2nd quarter valued at $15,111,000.

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.