BMO Capital Markets Boosts Rubrik (NYSE:RBRK) Price Target to $77.00

Rubrik (NYSE:RBRK) had its price objective boosted by equities research analysts at BMO Capital Markets from $72.00 to $77.00 in a research note issued on Friday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 9.16% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Barclays raised their target price on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Guggenheim reissued a “buy” rating and issued a $76.00 target price on shares of Rubrik in a report on Wednesday, February 26th. Robert W. Baird reduced their target price on Rubrik from $83.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Finally, Citigroup lifted their price objective on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of “Buy” and a consensus target price of $69.78.

Rubrik Stock Performance

Shares of RBRK opened at $70.54 on Friday. The company’s 50 day simple moving average is $68.27 and its 200-day simple moving average is $53.64. Rubrik has a 12-month low of $28.34 and a 12-month high of $80.00.

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

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the transaction, the chief financial officer now directly owns 343,774 shares of the company’s stock, valued at $23,386,945.22. This represents a 0.52 % decrease in their position. 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 company’s stock in a transaction that occurred 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 directly owns 153 shares in the company, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock valued at $41,583,311 in the last three months.

Institutional Investors Weigh In On Rubrik

A number of institutional investors have recently made changes to their positions in RBRK. Brown Brothers Harriman & Co. bought a new position in Rubrik during the 3rd quarter worth $25,000. Russell Investments Group Ltd. bought a new position in shares of Rubrik in the fourth quarter worth $28,000. Global Retirement Partners LLC grew its stake in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Nemes Rush Group LLC bought a new position in shares of Rubrik in the fourth quarter worth $39,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Rubrik in the fourth quarter worth $47,000. 49.54% of the stock is currently owned by institutional investors.

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.