Rubrik (NYSE:RBRK) Given New $80.00 Price Target at Guggenheim

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

Several other analysts also recently commented on the stock. BMO Capital Markets raised their price objective on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday. 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. Truist Financial raised their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird reduced their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Rubrik currently has an average rating of “Buy” and an average target price of $70.00.

Rubrik Stock Performance

Shares of RBRK stock traded down $1.12 on Tuesday, hitting $69.72. The company’s stock had a trading volume of 238,825 shares, compared to its average volume of 2,136,489. The company has a market capitalization of $12.92 billion and a PE ratio of -5.06. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The stock’s 50 day moving average is $68.32 and its 200-day moving average is $54.04.

Rubrik (NYSE:RBRK) last posted its 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 analysts’ expectations of $233.13 million. The company’s revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the business earned ($1.59) earnings per share. On average, research analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $67.06, for a total transaction of $1,676,500.00. Following the completion of the transaction, the executive now owns 321,560 shares in the company, valued at $21,563,813.60. This represents a 7.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total value of $122,454.00. Following the transaction, the chief financial officer now owns 343,774 shares of the company’s stock, 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 90 days, insiders sold 593,254 shares of company stock valued at $39,235,299.

Institutional Investors Weigh In On Rubrik

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

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.