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

Rubrik (NYSE:RBRK - Free Report) had its price objective upped by Wedbush from $75.00 to $80.00 in a report released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts have also weighed in on RBRK. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 target price on shares of Rubrik in a report on Friday. William Blair started coverage on Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating for the company. Truist Financial increased their price target on Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, December 6th. BMO Capital Markets raised their target price on Rubrik from $72.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday. Finally, KeyCorp lifted their target price on shares of Rubrik from $75.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $70.00.

Rubrik Price Performance

Rubrik stock traded down $0.84 during midday trading on Friday, hitting $70.00. 2,174,711 shares of the company were exchanged, compared to its average volume of 1,918,287. The company's fifty day moving average price is $68.32 and its 200-day moving average price is $54.04. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00. The company has a market cap of $12.97 billion and a PE ratio of -5.08.

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

Insider Buying and Selling at Rubrik

In other 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 completion of the transaction, the director now owns 153 shares of the company's stock, valued at approximately $10,342.80. This trade represents a 94.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,800 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $68.03, for a total transaction of $122,454.00. Following the completion of the transaction, the chief financial officer now directly owns 343,774 shares of the company's stock, valued at approximately $23,386,945.22. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 618,254 shares of company stock valued at $40,985,299 over the last ninety days.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Rubrik by 114.1% in the 4th quarter. Vanguard Group Inc. now owns 6,328,184 shares of the company's stock valued at $413,610,000 after buying an additional 3,372,323 shares during the period. Norges Bank acquired a new position in Rubrik in the 4th quarter valued at $277,395,000. FMR LLC boosted its position in shares of Rubrik by 172.6% during the 4th quarter. FMR LLC now owns 3,261,925 shares of the company's stock worth $213,199,000 after purchasing an additional 2,065,444 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Rubrik by 26.6% during the 4th quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock worth $206,278,000 after purchasing an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Rubrik by 27.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock worth $129,359,000 after buying an additional 427,149 shares in the last quarter. 49.54% of the stock is 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.