Rubrik (NYSE:RBRK) Price Target Raised to $105.00

Key Points

• Rosenblatt Securities raised Rubrik’s price target to $105 from $95 while maintaining a “buy” rating, implying 13.23% upside from the previous close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $104.56.
• Rubrik’s latest quarterly results exceeded expectations, with EPS of $0.16 versus a projected loss of $0.03 and revenue of $387.07 million, up 39% year over year.
• Rubrik shares opened at $92.73 after trading down 5.4%; insiders have sold $27.4 million worth of shares over the past 90 days, while institutional investors own 49.54% of the stock.

Rubrik (NYSE:RBRK - Get Free Report) had its price target raised by analysts at Rosenblatt Securities from $95.00 to $105.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Rosenblatt Securities' price objective indicates a potential upside of 13.23% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Loop Capital began coverage on shares of Rubrik in a research note on Monday, August 3rd. They issued a "buy" rating and a $100.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Rubrik in a research report on Wednesday, June 24th. Wells Fargo & Company upped their target price on Rubrik from $90.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday. Mizuho raised their price target on Rubrik from $90.00 to $112.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 19th. Finally, BTIG Research restated a "buy" rating and set a $91.00 target price on shares of Rubrik in a research note on Thursday, June 11th. Twenty-nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.56.

Rubrik Trading Down 5.4%

RBRK opened at $92.73 on Wednesday. Rubrik has a 12-month low of $42.25 and a 12-month high of $106.50. The stock has a 50-day moving average price of $83.20 and a 200-day moving average price of $66.51. The stock has a market capitalization of $19.09 billion, a P/E ratio of -63.95 and a beta of 1.17.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.19. The company had revenue of $387.07 million for the quarter, compared to analysts' expectations of $366.31 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The firm'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, equities research analysts predict that Rubrik will post -1.13 EPS for the current year.

Insider Transactions at Rubrik

In other news, CTO Arvind Nithrakashyap sold 12,820 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the completion of the transaction, the chief technology officer directly owned 293,293 shares of the company's stock, valued at approximately $24,551,557.03. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $83.10, for a total transaction of $330,654.90. Following the completion of the transaction, the director owned 125,351 shares of the company's stock, valued at $10,416,668.10. This trade represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 327,682 shares of company stock valued at $27,385,376 over the last 90 days. Corporate insiders own 13.66% of the company's stock.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently made changes to their positions in RBRK. Pictet Asset Management Holding SA grew its position in Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock valued at $162,572,000 after buying an additional 1,696,342 shares during the period. Norges Bank bought a new position in shares of Rubrik in the fourth quarter worth about $345,907,000. Legal & General Group Plc grew 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 valued at $145,680,000 after buying an additional 151,234 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Rubrik by 11.1% during the second quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company's stock valued at $22,514,000 after acquiring an additional 28,056 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings 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 worth $45,571,000 after purchasing an additional 191,738 shares during the last quarter. 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).

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