Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of “Buy” by Brokerages

Rubrik, Inc. (NYSE:RBRK) has received a consensus recommendation of “Buy” from the twenty-one research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $70.00.

A number of research firms recently issued reports on RBRK. Citigroup raised their price target on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Wedbush raised their target price on shares of Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Truist Financial upped their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their price objective on shares of Rubrik from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Rubrik in a research note on Friday, March 14th.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total transaction of $169,000.00. Following the transaction, the director now directly owns 153 shares in the company, valued at approximately $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the sale, the chief financial officer now owns 343,774 shares of the company’s stock, valued at approximately $23,386,945.22. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,254 shares of company stock worth $41,195,389.

Institutional Trading of Rubrik

Institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik in the third quarter valued at $25,000. Russell Investments Group Ltd. purchased a new position in Rubrik during the 4th quarter valued at about $28,000. Global Retirement Partners LLC raised its position in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at about $39,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $47,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Trading Down 1.1 %

Shares of NYSE:RBRK opened at $70.20 on Friday. The firm has a 50 day simple moving average of $68.73 and a 200-day simple moving average of $54.51. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00. The company has a market capitalization of $13.00 billion and a PE ratio of -5.09.

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

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.