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

Rubrik (NYSE:RBRK - Free Report) had its target price boosted by BMO Capital Markets from $72.00 to $77.00 in a research report released on Friday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Guggenheim reiterated a "buy" rating and issued a $76.00 price objective on shares of Rubrik in a research note on Wednesday, February 26th. Mizuho lifted their price objective on shares of Rubrik from $75.00 to $82.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Rosenblatt Securities upgraded shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price objective for the company in a research note on Wednesday, March 12th. Finally, William Blair began coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating for the company. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.00.

Remove Ads

Rubrik Price Performance

RBRK stock traded down $0.84 during midday trading on Friday, reaching $70.00. 2,174,711 shares of the company were exchanged, compared to its average volume of 1,918,287. The business has a 50-day moving average price of $68.32 and a two-hundred day moving average price of $54.04. Rubrik has a one year low of $28.34 and a one year high of $80.00. The firm has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $258.10 million during the quarter, compared to analysts' expectations of $233.13 million. Rubrik's revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.59) EPS. As a group, analysts anticipate that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 2,500 shares of the business'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 transaction, the director now owns 153 shares in the company, valued at approximately $10,342.80. The trade was a 94.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the executive now owns 331,043 shares in the company, valued at $23,173,010. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 618,254 shares of company stock valued at $40,985,299 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Norges Bank acquired a new position in shares of Rubrik during the 4th quarter valued at $277,395,000. Vanguard Group Inc. lifted its position in shares of Rubrik by 114.1% during the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after acquiring an additional 3,372,323 shares during the period. FMR LLC raised its holdings in Rubrik by 172.6% during the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after buying an additional 2,065,444 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in Rubrik during the third quarter worth $44,418,000. Finally, Point72 Asset Management L.P. acquired a new position in Rubrik during the third quarter worth $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.