Robert W. Baird Issues Pessimistic Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price objective dropped by analysts at Robert W. Baird from $83.00 to $76.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 37.71% from the company’s previous close.

A number of other equities research analysts also recently weighed in on RBRK. Citigroup raised their price objective on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Cantor Fitzgerald increased their price target on shares of Rubrik from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho lifted their price objective on shares of Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their target price on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, KeyCorp lifted their price target on shares of Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $66.72.

Rubrik Price Performance

NYSE RBRK opened at $55.19 on Wednesday. The company’s 50-day simple moving average is $68.42 and its two-hundred day simple moving average is $53.26. Rubrik has a one year low of $28.34 and a one year high of $80.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.59) earnings per share. Analysts predict 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 65,517 shares of Rubrik stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $66.06, for a total value of $4,328,053.02. Following the completion of the transaction, the executive now owns 406,043 shares in the company, valued at $26,823,200.58. The trade was a 13.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $14,229,014.31. This represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock worth $41,583,311 over the last 90 days.

Institutional Trading of Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in RBRK. Wealthcare Advisory Partners LLC grew its stake in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock valued at $683,000 after acquiring an additional 300 shares during the period. Russell Investments Group Ltd. purchased a new position in Rubrik during the fourth quarter valued at $28,000. KBC Group NV grew its position in shares of Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after purchasing an additional 430 shares during the period. Global Retirement Partners LLC grew its position 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 valued at $33,000 after purchasing an additional 500 shares during the period. Finally, Nemes Rush Group LLC purchased a new stake in shares of Rubrik during the fourth quarter worth about $39,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.