Rubrik (NYSE:RBRK) Price Target Raised to $48.00 at Wedbush

Rubrik (NYSE:RBRK - Get Free Report) had its target price lifted by equities research analysts at Wedbush from $44.00 to $48.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's target price would indicate a potential upside of 23.49% from the stock's previous close.

A number of other brokerages have also commented on RBRK. Piper Sandler started coverage on Rubrik in a report on Monday, August 19th. They set an "overweight" rating and a $42.00 price target on the stock. Robert W. Baird started coverage on Rubrik in a report on Monday, July 15th. They set an "outperform" rating and a $42.00 price target on the stock. Citigroup lifted their price target on Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. FBN Securities started coverage on Rubrik in a report on Monday, September 30th. They set an "outperform" rating and a $40.00 price target on the stock. Finally, CIBC boosted their target price on Rubrik from $50.00 to $52.00 and gave the company an "outperformer" rating in a research note on Tuesday, September 10th. Sixteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $44.65.

Rubrik Stock Down 0.7 %

Shares of RBRK stock traded down $0.26 during trading hours on Wednesday, reaching $38.87. The company had a trading volume of 964,953 shares, compared to its average volume of 1,520,822. Rubrik has a 12 month low of $28.34 and a 12 month high of $40.36. The firm has a fifty day moving average of $33.66.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. On average, equities research analysts anticipate that Rubrik will post -7.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ravi Mhatre sold 15,933 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.25, for a total value of $781,250.00. Following the transaction, the executive now owns 437,545 shares of the company's stock, valued at approximately $13,673,281.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 368,329 shares of company stock worth $12,241,803.

Hedge Funds Weigh In On Rubrik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC bought a new stake in Rubrik during the second quarter worth about $47,523,000. Clearbridge Investments LLC bought a new stake in Rubrik during the second quarter worth about $32,888,000. EPIQ Capital Group LLC bought a new stake in Rubrik during the second quarter worth about $15,111,000. SG Americas Securities LLC bought a new stake in Rubrik during the third quarter worth about $10,200,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Rubrik during the second quarter worth about $7,665,000.

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.