Guggenheim Increases Rubrik (NYSE:RBRK) Price Target to $80.00

Rubrik (NYSE:RBRK) had its price target raised by research analysts at Guggenheim from $76.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 14.74% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Citigroup boosted 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. Piper Sandler boosted their price target on shares of Rubrik from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Friday. Wedbush upped their price objective on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp dropped their price objective on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik has an average rating of “Buy” and an average target price of $70.00.

Rubrik Trading Down 1.6 %

RBRK stock traded down $1.12 on Tuesday, hitting $69.72. 238,825 shares of the company’s stock traded hands, compared to its average volume of 2,136,489. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The stock has a market cap of $12.92 billion and a price-to-earnings ratio of -5.06. The stock has a fifty day moving average of $68.32 and a 200-day moving average of $54.04.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same period in the previous year, the company posted ($1.59) earnings per share. Rubrik’s revenue was up 47.5% on a year-over-year basis. On average, equities research analysts anticipate that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the sale, the director now owns 153 shares of the company’s stock, valued at $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the business’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the sale, the chief financial officer now directly owns 343,774 shares in the company, valued at approximately $23,386,945.22. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 593,254 shares of company stock valued at $39,235,299.

Institutional Trading of Rubrik

A number of institutional investors have recently made changes to their positions in the business. KBC Group NV bought a new stake in Rubrik during the third quarter worth $72,000. Natixis Advisors LLC raised its position in Rubrik by 302.5% during the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after acquiring an additional 40,036 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in Rubrik during the third quarter worth $243,000. Charles Schwab Investment Management Inc. raised its position in Rubrik by 134.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after acquiring an additional 186,485 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in Rubrik during the third quarter worth $44,418,000. Institutional investors own 49.54% of the company’s stock.

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.