Guggenheim Raises Rubrik (NYSE:RBRK) Price Target to $72.00

Rubrik (NYSE:RBRK) had its price target boosted by analysts at Guggenheim from $52.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 11.40% from the company’s current price.

Several other analysts have also weighed in on the company. Robert W. Baird upped their target price on Rubrik from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday. Barclays increased their price objective on shares of Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald lifted their target price on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $72.00 price target (up from $42.00) on shares of Rubrik in a research report on Friday. Finally, Citigroup lifted their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.59.

Rubrik Trading Up 20.4 %

Shares of NYSE RBRK opened at $64.63 on Friday. Rubrik has a 52 week low of $28.34 and a 52 week high of $72.66. The firm has a 50-day moving average price of $42.65 and a 200 day moving average price of $36.18.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. Analysts anticipate that Rubrik will post -8.04 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.41, for a total value of $1,630,932.84. Following the transaction, the chief financial officer now directly owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 9.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders have sold a total of 574,912 shares of company stock worth $22,673,114 in the last three months.

Institutional Investors Weigh In On Rubrik

Several large investors have recently made changes to their positions in the business. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik during the 2nd quarter valued at about $47,523,000. Champlain Investment Partners LLC acquired a new stake in Rubrik in the third quarter valued at approximately $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the third quarter valued at approximately $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik during the third quarter worth $40,466,000. Finally, Institutional Venture Management XV LLC boosted its stake in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the period.

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.