Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Key Points

• Canadian Imperial Bank of Commerce raised Rubrik’s price target to $120 from $115 and maintained an “outperformer” rating, implying 31.38% upside from the stock’s $91.34 price.
• Analyst sentiment remains broadly positive: 29 analysts rate Rubrik a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average target of $112.15.
• Rubrik exceeded quarterly expectations, reporting $0.20 in earnings per share versus a $0.04 estimate and $427.26 million in revenue, up 43.9% year over year; insiders have nevertheless sold $9.22 million of stock over the past 90 days.

Rubrik (NYSE:RBRK - Get Free Report) had its price objective upped by equities researchers at Canadian Imperial Bank of Commerce from $115.00 to $120.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 31.38% from the stock's current price.

Other research analysts have also recently issued reports about the stock. UBS Group reaffirmed a "buy" rating and set a $106.00 target price on shares of Rubrik in a report on Wednesday, August 19th. Oppenheimer set a $120.00 price target on Rubrik in a research note on Thursday, August 20th. Wolfe Research restated an "outperform" rating and set a $120.00 price objective on shares of Rubrik in a research note on Friday. Jefferies Financial Group set a $90.00 price objective on Rubrik in a research note on Friday, June 5th. Finally, Telsey Advisory Group set a $120.00 target price on Rubrik in a research report on Friday. Twenty-nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rubrik presently has an average rating of "Moderate Buy" and a consensus target price of $112.15.

Rubrik Stock Performance

NYSE:RBRK traded down $1.71 during mid-day trading on Monday, hitting $91.34. 2,405,272 shares of the stock were exchanged, compared to its average volume of 3,769,322. The firm's 50-day simple moving average is $84.94 and its 200 day simple moving average is $67.52. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of -72.49 and a beta of 1.17. Rubrik has a fifty-two week low of $42.25 and a fifty-two week high of $107.91.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.16. The firm had revenue of $427.26 million for the quarter, compared to the consensus estimate of $396.30 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The firm's quarterly revenue was up 43.9% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. On average, analysts predict that Rubrik will post -1.13 EPS for the current fiscal year.

Insider Activity

In other Rubrik news, CFO Kiran Kumar Choudary sold 10,000 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $98.32, for a total value of $983,200.00. Following the sale, the chief financial officer owned 978,073 shares of the company's stock, valued at approximately $96,164,137.36. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of Rubrik stock in a transaction on Friday, June 26th. The shares were sold at an average price of $71.49, for a total value of $284,458.71. Following the completion of the transaction, the director owned 113,477 shares in the company, valued at approximately $8,112,470.73. The trade was a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 111,897 shares of company stock valued at $9,221,808. 13.66% of the stock is owned by insiders.

Institutional Trading of Rubrik

Several large investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA lifted its holdings in shares of Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after purchasing an additional 1,696,342 shares during the period. Norges Bank acquired a new position in Rubrik during the 4th quarter worth about $345,907,000. Legal & General Group Plc lifted its holdings in Rubrik by 8.6% during the 4th quarter. Legal & General Group Plc now owns 1,904,810 shares of the company's stock worth $145,680,000 after buying an additional 151,234 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Rubrik by 11.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company's stock valued at $22,514,000 after buying an additional 28,056 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Rubrik by 47.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 595,851 shares of the company's stock valued at $45,571,000 after buying an additional 191,738 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

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