Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of “Buy” by Analysts

Rubrik, Inc. (NYSE:RBRK) has received an average recommendation of “Buy” from the twenty-one analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $69.78.

Several analysts have issued reports on the stock. Truist Financial upped their price target on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company increased their target price on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. KeyCorp cut their price target on Rubrik from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Friday. Robert W. Baird decreased their price objective on Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Mizuho boosted their target price on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th.

Insiders Place Their Bets

In other news, CTO Arvind Nithrakashyap sold 227,596 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value of $14,768,704.44. Following the completion of the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $14,229,014.31. This represents a 50.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 28,485 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $72.34, for a total value of $2,060,604.90. Following the sale, the executive now owns 346,560 shares in the company, valued at approximately $25,070,150.40. The trade was a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 625,712 shares of company stock worth $41,583,311 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC lifted its holdings in Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after buying an additional 300 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Rubrik in the fourth quarter worth about $28,000. KBC Group NV boosted its holdings in Rubrik by 19.1% in the fourth quarter. KBC Group NV now owns 2,679 shares of the company’s stock valued at $175,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC grew its stake in Rubrik by 8,333.3% during the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Rubrik during the 4th quarter worth approximately $39,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

Rubrik Stock Up 27.6 %

Shares of NYSE:RBRK opened at $70.54 on Friday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The firm’s 50-day simple moving average is $68.27 and its 200-day simple moving average is $53.64.

Rubrik (NYSE:RBRK) last issued its 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 business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the prior year, the firm earned ($1.59) EPS. The business’s quarterly revenue was up 47.5% on a year-over-year basis. Equities research analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

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.