Cantor Fitzgerald Raises Rubrik (NYSE:RBRK) Price Target to $70.00

Rubrik (NYSE:RBRK) had its price target boosted by stock analysts at Cantor Fitzgerald from $58.00 to $70.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 8.31% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price target (up from $42.00) on shares of Rubrik in a report on Friday. BMO Capital Markets upped their target price on shares of Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup lifted their price target on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Guggenheim increased their price objective on shares of Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.59.

Rubrik Trading Up 20.4 %

Shares of NYSE RBRK opened at $64.63 on Friday. The firm’s 50 day moving average price is $42.65 and its 200-day moving average price is $36.18. Rubrik has a 52-week low of $28.34 and a 52-week high of $72.66.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, research analysts expect that Rubrik will post -8.04 earnings per share for the current year.

Insider Buying and Selling at Rubrik

In related news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction dated 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. Over the last quarter, insiders sold 574,912 shares of company stock valued at $22,673,114.

Institutional Trading of Rubrik

Several institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new position in shares of Rubrik during the third quarter worth $25,000. KBC Group NV bought a new position in shares of Rubrik during the 3rd quarter valued at about $72,000. Quent Capital LLC purchased a new position in shares of Rubrik during the third quarter valued at about $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik during the third quarter valued at about $208,000. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Rubrik in the third quarter worth about $243,000.

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.