Rubrik (NYSE:RBRK) Raised to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Rubrik (NYSE:RBRK) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. FBN Securities assumed coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Wedbush increased their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on shares of Rubrik from $43.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, CIBC increased their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $46.71.

Rubrik Stock Performance

NYSE:RBRK opened at $51.05 on Wednesday. The stock’s 50-day moving average is $38.68 and its 200-day moving average is $34.94. Rubrik has a 1-year low of $28.34 and a 1-year high of $51.58.

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

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 51,924 shares of the firm’s stock in a transaction that occurred on 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 owns 493,360 shares in the company, valued at $15,496,437.60. This trade represents a 9.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction that occurred on 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 491,312 shares of company stock worth $17,657,062 in the last ninety days.

Institutional Investors Weigh In On Rubrik

A number of institutional investors and hedge funds have recently bought and sold shares of RBRK. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the 3rd quarter valued at about $25,000. KBC Group NV purchased a new stake in shares of Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC purchased a new stake in shares of Rubrik during the third quarter valued at approximately $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik during the third quarter worth $208,000. Finally, Register Financial Advisors LLC purchased a new position in Rubrik in the second quarter worth $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.