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

Rubrik (NYSE:RBRK) had its target price hoisted by Wedbush from $75.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 13.41% from the stock’s previous close.

A number of other analysts also recently commented on RBRK. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a report on Friday. Mizuho upped their price target on Rubrik from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Truist Financial upped their price target on Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, December 6th. William Blair started coverage on Rubrik in a report on Friday, February 7th. They issued a “market perform” rating for the company. Finally, Robert W. Baird reduced their price target on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Stock Up 27.6 %

Shares of NYSE RBRK opened at $70.54 on Friday. The business has a fifty day simple moving average of $68.27 and a two-hundred day simple moving average of $53.64. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The firm 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 period last year, the firm posted ($1.59) earnings per share. As a group, sell-side analysts expect that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $67.06, for a total value of $1,676,500.00. Following the sale, the executive now directly owns 321,560 shares in the company, valued at approximately $21,563,813.60. This trade 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 accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $287,406.82. Following the completion of the sale, the chief financial officer now owns 345,374 shares in the company, valued at approximately $24,984,355.16. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 625,712 shares of company stock worth $41,583,311.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $20,774,000. KBC Group NV purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $72,000. Natixis Advisors LLC lifted its holdings in shares of Rubrik by 302.5% in the 3rd quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock valued at $1,713,000 after purchasing an additional 40,036 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Rubrik in the 3rd quarter valued at about $243,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rubrik by 134.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock valued at $10,462,000 after purchasing an additional 186,485 shares during the last quarter. 49.54% of the stock is 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.