Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Truist Financial Analyst Says

Rubrik (NYSE:RBRK - Free Report) had its target price increased by Truist Financial from $43.00 to $50.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on RBRK. Wedbush boosted their price objective on Rubrik from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Oppenheimer assumed coverage on shares of Rubrik in a research note on Wednesday, November 13th. They issued a "market perform" rating for the company. Citigroup upped their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $50.00 price target on shares of Rubrik in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company decreased their target price on Rubrik from $42.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Rubrik has an average rating of "Buy" and a consensus price target of $45.41.

Rubrik Trading Up 1.3 %

Shares of NYSE RBRK traded up $0.55 during mid-day trading on Monday, hitting $43.79. 750,113 shares of the stock traded hands, compared to its average volume of 1,484,734. Rubrik has a 52 week low of $28.34 and a 52 week high of $45.90. The stock has a fifty day moving average price of $37.41 and a 200-day moving average price of $34.57.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. Research analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Barry Eggers sold 100,000 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 454,512 shares of company stock worth $15,813,462.

Institutional Trading of Rubrik

A number of institutional investors have recently bought and sold shares of RBRK. Geode Capital Management LLC grew its holdings in shares of Rubrik by 133.3% during the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company's stock valued at $18,290,000 after purchasing an additional 324,951 shares during the last quarter. Barclays PLC raised its position in shares of Rubrik by 140.6% in the 3rd quarter. Barclays PLC now owns 12,029 shares of the company's stock worth $386,000 after acquiring an additional 7,029 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Rubrik during the 3rd quarter worth approximately $571,000. State Street Corp increased its stake in Rubrik by 368.9% in the third quarter. State Street Corp now owns 421,096 shares of the company's stock valued at $13,538,000 after purchasing an additional 331,296 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Rubrik by 407.7% during the third quarter. Stifel Financial Corp now owns 68,566 shares of the company's stock worth $2,204,000 after purchasing an additional 55,062 shares during the period.

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.