Rubrik (NYSE:RBRK) Stock Price Expected to Rise, KeyCorp Analyst Says

Rubrik (NYSE:RBRK) had its price objective upped by stock analysts at KeyCorp from $48.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 11.66% from the company’s current price.

RBRK has been the topic of a number of other reports. Robert W. Baird boosted their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Oppenheimer started coverage on Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Cantor Fitzgerald raised Rubrik to a “strong-buy” rating in a report on Wednesday. Piper Sandler started coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, Guggenheim raised their target price on Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $46.71.

Rubrik Price Performance

Shares of RBRK opened at $51.05 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $51.58. The stock has a 50 day simple moving average of $38.68 and a 200-day simple moving average of $34.94.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. As a group, research analysts forecast that Rubrik will post -8.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $50.38, for a total value of $1,259,500.00. Following the sale, the executive now directly owns 362,545 shares in the company, valued at $18,265,017.10. This trade represents a 6.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $50.31, for a total transaction of $503,100.00. Following the transaction, the chief financial officer now owns 374,560 shares of the company’s stock, valued at approximately $18,844,113.60. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,312 shares of company stock valued at $17,657,062.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in Rubrik in the 3rd quarter valued at approximately $25,000. KBC Group NV acquired a new stake in Rubrik during the third quarter worth approximately $72,000. Quent Capital LLC acquired a new stake in Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Rubrik in the 3rd quarter valued at $208,000. Finally, Register Financial Advisors LLC acquired a new stake in Rubrik in the second quarter valued at approximately $227,000.

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.