Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) have received an average rating of "Buy" from the twenty-one brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $69.17.

A number of brokerages recently commented on RBRK. KeyCorp lowered their target price on Rubrik from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Wells Fargo & Company lifted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, March 14th. William Blair began coverage on shares of Rubrik in a report on Friday, February 7th. They set a "market perform" rating on the stock. Wedbush boosted their price target on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, March 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Rubrik in a research report on Friday, March 14th.

Rubrik Stock Up 1.0 %

Shares of RBRK traded up $0.60 during trading on Thursday, reaching $58.95. 2,989,381 shares of the company traded hands, compared to its average volume of 2,045,458. The stock has a 50-day simple moving average of $65.71 and a 200-day simple moving average of $58.34. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00. The stock has a market cap of $11.19 billion and a PE ratio of -4.28.

Remove Ads

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter last year, the firm posted ($1.59) earnings per share. The firm's revenue for the quarter was up 47.5% compared to the same quarter last year. On average, equities research analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Transactions at Rubrik

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the firm'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 sale, the director now owns 153 shares in the company, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $14,229,014.31. This represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 732,302 shares of company stock valued at $48,269,123.

Institutional Trading of Rubrik

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter valued at about $28,000. Global Retirement Partners LLC boosted its holdings in Rubrik by 8,333.3% during the fourth 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. Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter worth approximately $39,000. Point72 Hong Kong Ltd acquired a new stake in Rubrik in the 4th quarter valued at $47,000. Finally, Quarry LP acquired a new stake in shares of Rubrik in the 4th quarter valued at $48,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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.