Rubrik, Inc. (NYSE:RBRK) Receives Average Rating of “Buy” from Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have earned an average recommendation of “Buy” from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $70.00.

Several research analysts have weighed in on the company. Mizuho boosted their price target on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Wedbush upped their target price on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Truist Financial raised their price target on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. William Blair assumed coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company raised their target price on shares of Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $67.66, for a total transaction of $2,198,882.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares of the company’s stock, valued at approximately $10,342.80. This represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 621,254 shares of company stock valued at $41,195,389.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in Rubrik in the 3rd quarter worth $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik during the fourth quarter worth about $28,000. Global Retirement Partners LLC lifted its stake in shares of Rubrik by 8,333.3% in 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 in the last quarter. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the fourth quarter worth about $39,000. Finally, Point72 Hong Kong Ltd purchased a new position in Rubrik in the fourth quarter valued at about $47,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Stock Down 1.1 %

RBRK opened at $70.20 on Friday. The firm has a market cap of $13.00 billion and a P/E ratio of -5.09. The business’s fifty day simple moving average is $68.73 and its 200 day simple moving average is $54.51. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. Rubrik’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period in the previous year, the business posted ($1.59) EPS. As a group, equities analysts expect 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.