Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Rubrik (NYSE:RBRK - Free Report) had its price target increased by Wells Fargo & Company from $76.00 to $80.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on RBRK. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $85.00 price objective on shares of Rubrik in a report on Friday. Piper Sandler boosted their price target on Rubrik from $72.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Rosenblatt Securities raised Rubrik from a "neutral" rating to a "buy" rating and set a $77.00 price target for the company in a report on Wednesday, March 12th. KeyCorp boosted their price target on Rubrik from $75.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Citigroup boosted their price target on Rubrik from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $70.00.

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Rubrik Stock Performance

NYSE:RBRK 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 stock has a market capitalization of $12.97 billion and a price-to-earnings ratio of -5.08. The firm's 50-day simple moving average is $68.32 and its 200 day simple moving average is $54.04. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $80.00.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share 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 analyst estimates of $233.13 million. The company's revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.59) earnings per share. On average, analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the executive now owns 331,043 shares in the company, valued at approximately $23,173,010. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the company's stock in a transaction dated 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 sale, the director now owns 153 shares in the company, valued at $10,342.80. This trade represents a 94.23 % 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 Investors Weigh In On Rubrik

A number of institutional investors have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC lifted its stake 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 valued at $683,000 after purchasing an additional 300 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Rubrik in the 4th quarter valued at about $28,000. KBC Group NV lifted its stake in shares of Rubrik by 19.1% in the 4th quarter. KBC Group NV now owns 2,679 shares of the company's stock valued at $175,000 after purchasing an additional 430 shares during the period. Global Retirement Partners LLC lifted its stake 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 valued at $33,000 after purchasing an additional 500 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in shares of Rubrik in the 4th quarter valued at about $39,000. Institutional investors own 49.54% of the company's stock.

About Rubrik

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.