Cantor Fitzgerald Reaffirms Overweight Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They presently have a $85.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 20.50% from the stock’s current price.

Several other research firms have also weighed in on RBRK. Guggenheim reiterated a “buy” rating and set a $76.00 target price on shares of Rubrik in a report on Wednesday, February 26th. Rosenblatt Securities upgraded Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup lifted their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Stock Performance

NYSE:RBRK opened at $70.54 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00. The stock’s fifty day simple moving average is $68.27 and its 200-day simple moving average is $53.64.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.59) EPS. On average, equities analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the business’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 transaction of $169,000.00. Following the transaction, the director now owns 153 shares of the company’s stock, valued at $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Brian K. Mccarthy sold 28,485 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total value of $2,060,604.90. Following the transaction, the executive now directly owns 346,560 shares in the company, valued at approximately $25,070,150.40. This trade represents a 7.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 625,712 shares of company stock valued at $41,583,311 over the last 90 days.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Janus Henderson Group PLC grew its position in shares of Rubrik by 6.9% in the third quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after purchasing an additional 23,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rubrik during the third quarter worth approximately $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rubrik by 24.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after buying an additional 49,372 shares in the last quarter. Renaissance Capital LLC grew its position in Rubrik by 21.2% during the fourth quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock worth $4,757,000 after buying an additional 12,714 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Rubrik in the 3rd quarter valued at $336,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.