Rubrik (NYSE:RBRK) Stock Rating Upgraded by Rosenblatt Securities

Rubrik (NYSE:RBRK) was upgraded by research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $77.00 price objective on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 39.53% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. William Blair started coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Guggenheim reaffirmed a “buy” rating and set a $76.00 price target on shares of Rubrik in a report on Wednesday, February 26th. KeyCorp increased their price objective on Rubrik from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Piper Sandler lifted their target price on Rubrik from $72.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald boosted their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $66.72.

Rubrik Stock Down 3.4 %

NYSE RBRK opened at $55.19 on Wednesday. Rubrik has a one year low of $28.34 and a one year high of $80.00. The company has a 50-day simple moving average of $68.42 and a 200-day simple moving average of $53.26.

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

Insider Buying and Selling

In other news, CFO Kiran Kumar Choudary sold 3,973 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $287,406.82. Following the completion of the sale, the chief financial officer now directly owns 345,374 shares of the company’s stock, valued at $24,984,355.16. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now owns 153 shares of the company’s stock, valued at $10,342.80. This trade represents a 94.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 625,712 shares of company stock worth $41,583,311.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently made changes to their positions in RBRK. Norges Bank acquired a new position in Rubrik in the 4th quarter worth approximately $277,395,000. Vanguard Group Inc. lifted its holdings in shares of Rubrik by 114.1% in the fourth quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company’s stock valued at $413,610,000 after purchasing an additional 3,372,323 shares in the last quarter. FMR LLC lifted its holdings in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Rubrik in the third quarter worth $44,418,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Rubrik during the third quarter valued at $42,247,000. Institutional investors and hedge funds own 49.54% of the company’s stock.

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.