Rubrik (NYSE:RBRK) Price Target Raised to $80.00

Rubrik (NYSE:RBRK - Free Report) had its price target lifted by Guggenheim from $76.00 to $80.00 in a report published on Tuesday, Marketbeat Ratings reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts have also commented on RBRK. Rosenblatt Securities upgraded shares of Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target on the stock in a research note on Wednesday, March 12th. Barclays lifted their price target on shares of Rubrik from $51.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. KeyCorp cut their price target on shares of Rubrik from $87.00 to $82.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price target on shares of Rubrik in a research note on Friday, March 14th. Finally, Wedbush lifted their price objective on shares of Rubrik from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Rubrik has an average rating of "Buy" and a consensus price target of $70.00.

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Rubrik Price Performance

Shares of RBRK traded down $2.04 during midday trading on Tuesday, reaching $68.15. The stock had a trading volume of 3,934,511 shares, compared to its average volume of 1,931,981. Rubrik has a 1-year low of $28.34 and a 1-year high of $80.00. The company's fifty day simple moving average is $68.82 and its two-hundred day simple moving average is $54.90. The company has a market cap of $12.62 billion and a price-to-earnings ratio of -4.95.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.61) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. During the same quarter last year, the firm earned ($1.59) EPS. The company's quarterly revenue was up 47.5% on a year-over-year basis. On average, sell-side analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Yvonne Wassenaar sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,714.59. This represents a 95.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at approximately $13,505,393.61. This represents a 12.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,254 shares of company stock worth $41,195,389.

Institutional Investors Weigh In On Rubrik

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter worth $28,000. Global Retirement Partners LLC increased its position 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 acquiring an additional 500 shares in the last quarter. Nemes Rush Group LLC acquired a new stake in shares of Rubrik in the fourth quarter worth $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rubrik in the fourth quarter worth $47,000. Finally, Quarry LP acquired a new stake in shares of Rubrik in the fourth quarter worth $48,000. 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.