Rubrik (NYSE:RBRK) Given New $114.00 Price Target at Scotiabank

Key Points

• Scotiabank raised Rubrik’s price target to $114 from $95 and maintained a “sector outperform” rating, implying 16.29% upside from the prior close.
• Analyst sentiment remains favorable, with 29 Buy ratings and one Sell rating; the consensus is “Moderate Buy” with a $103.96 price target.
• Rubrik exceeded quarterly expectations, reporting $0.16 EPS versus a projected $0.03 loss and $387.07 million in revenue, up 39% year over year. Shares opened at $98.03 after declining 2.1%.

Rubrik (NYSE:RBRK - Get Free Report) had its target price upped by stock analysts at Scotiabank from $95.00 to $114.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price objective points to a potential upside of 16.29% from the company's previous close.

RBRK has been the subject of a number of other research reports. Stephens restated an "overweight" rating and issued a $90.00 price objective on shares of Rubrik in a research note on Monday, June 15th. Robert W. Baird upped their target price on shares of Rubrik from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Rubrik in a research report on Friday, June 5th. Guggenheim restated a "buy" rating on shares of Rubrik in a research note on Monday. Finally, Piper Sandler restated an "overweight" rating and set a $91.00 price target (up from $84.00) on shares of Rubrik in a research note on Friday, June 5th. Twenty-nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.96.

Rubrik Trading Down 2.1%

Shares of NYSE:RBRK opened at $98.03 on Tuesday. Rubrik has a 1-year low of $42.25 and a 1-year high of $106.50. The firm has a market capitalization of $20.18 billion, a PE ratio of -67.61 and a beta of 1.17. The business's 50 day moving average is $82.73 and its 200-day moving average is $66.22.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.19. The firm had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business's revenue for the quarter was up 39.0% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. On average, sell-side analysts predict that Rubrik will post -1.13 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 199,447 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $84.28, for a total value of $16,809,393.16. Following the sale, the chief technology officer owned 314,048 shares of the company's stock, valued at approximately $26,467,965.44. This represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $71.49, for a total transaction of $284,458.71. Following the sale, the director owned 113,477 shares of the company's stock, valued at $8,112,470.73. This trade represents a 3.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 317,682 shares of company stock valued at $26,402,176. 13.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rubrik

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

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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