Cantor Fitzgerald Reiterates Overweight Rating for Rubrik (NYSE:RBRK)

Cantor Fitzgerald reiterated their overweight rating on shares of Rubrik (NYSE:RBRK - Free Report) in a research report released on Friday,Benzinga reports. Cantor Fitzgerald currently has a $85.00 price target on the stock.

Several other equities research analysts have also issued reports on RBRK. Truist Financial lifted their price target on Rubrik from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Mizuho boosted their target price on Rubrik from $75.00 to $82.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Piper Sandler boosted their target price on Rubrik from $72.00 to $83.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. Barclays boosted their target price on Rubrik from $51.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Robert W. Baird lowered their target price on Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, seventeen 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 an average target price of $70.00.

Rubrik Price Performance

RBRK stock traded down $0.84 during mid-day trading on Friday, hitting $70.00. 2,174,711 shares of the stock were exchanged, compared to its average volume of 1,918,287. The business has a fifty day moving average price of $68.32 and a 200 day moving average price of $54.04. Rubrik has a 12 month low of $28.34 and a 12 month high of $80.00. The stock has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08.

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Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $258.10 million during the quarter, compared to analysts' expectations of $233.13 million. During the same period in the prior year, the business posted ($1.59) earnings per share. The firm's revenue was up 47.5% on a year-over-year basis. As a group, equities analysts forecast that Rubrik will post -7.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rubrik news, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $11,828.43. This represents a 94.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $64.89, for a total value 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 trade represents a 50.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 618,254 shares of company stock worth $40,985,299.

Institutional Trading of Rubrik

A number of hedge funds have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC boosted its position in shares of Rubrik by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company's stock worth $683,000 after purchasing an additional 300 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Rubrik in the 4th quarter worth approximately $28,000. KBC Group NV boosted its position in shares of Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company's stock worth $175,000 after purchasing an additional 430 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in Rubrik in the 4th quarter valued at approximately $39,000. 49.54% of the stock is owned by institutional investors.

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.