Rubrik, Inc. (NYSE:RBRK) Receives Average Recommendation of “Buy” from Brokerages

Rubrik, Inc. (NYSE:RBRK) has earned a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $47.12.

Several research firms recently issued reports on RBRK. KeyCorp lifted their price objective on Rubrik from $48.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Guggenheim upped their price objective on shares of Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. FBN Securities began coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price for the company. Barclays increased their price target on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Truist Financial lifted their price objective on shares of Rubrik from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th.

Rubrik Price Performance

Shares of RBRK opened at $53.63 on Friday. Rubrik has a 52-week low of $28.34 and a 52-week high of $54.90. The stock’s 50-day simple moving average is $42.00 and its 200 day simple moving average is $35.98.

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

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. This trade represents a 0.35 % 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 link. Also, CRO Brian K. Mccarthy sold 104,672 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the transaction, the executive now directly owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 518,112 shares of company stock worth $18,997,746.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Zweig DiMenna Associates LLC purchased a new stake in Rubrik in the second quarter worth $6,730,000. EFG Asset Management North America Corp. bought a new position in shares of Rubrik in the 2nd quarter worth about $925,000. ARK Investment Management LLC bought a new position in shares of Rubrik in the 2nd quarter worth about $6,043,000. Cisco Systems Inc. purchased a new position in Rubrik during the 2nd quarter valued at about $5,613,000. Finally, Commonwealth Equity Services LLC bought a new stake in Rubrik during the second quarter worth about $503,000.

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.