Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush raised Rubrik’s price target from $120 to $150 and maintained an “outperform” rating, implying about 13% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: 29 analysts rate Rubrik a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average target of $116.67.
• Rubrik’s latest quarter exceeded expectations, with EPS of $0.20 versus $0.04 expected and revenue of $427.26 million, up 43.9% year over year.

Rubrik (NYSE:RBRK - Get Free Report) had its price target lifted by research analysts at Wedbush from $120.00 to $150.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 12.98% from the stock's current price.

Several other analysts also recently commented on RBRK. Truist Financial increased their price objective on Rubrik from $90.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Telsey Advisory Group set a $120.00 price target on Rubrik in a report on Friday, August 28th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Rubrik in a research note on Monday, August 31st. Oppenheimer set a $120.00 target price on shares of Rubrik in a research note on Thursday, August 20th. Finally, Loop Capital initiated coverage on shares of Rubrik in a research report on Monday, August 3rd. They set a "buy" rating and a $100.00 price target on the stock. Twenty-nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $116.67.

Rubrik Trading Up 3.1%

NYSE:RBRK opened at $132.77 on Monday. Rubrik has a 1-year low of $42.25 and a 1-year high of $130.84. The stock has a market cap of $27.52 billion, a P/E ratio of -104.55 and a beta of 1.12. The stock's 50-day moving average is $107.10 and its 200-day moving average is $83.58.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.16. The firm had revenue of $427.26 million during the quarter, compared to analyst estimates of $396.30 million. The firm's revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. As a group, equities analysts forecast that Rubrik will post -1.19 EPS for the current year.

Insider Activity at Rubrik

In related news, Director Yvonne Wassenaar sold 721 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $119.00, for a total transaction of $85,799.00. Following the completion of the sale, the director directly owned 2,988 shares in the company, valued at $355,572. This represents a 19.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 12,820 shares of Rubrik stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $124.14, for a total transaction of $1,591,474.80. Following the completion of the transaction, the chief technology officer directly owned 272,538 shares in the company, valued at approximately $33,832,867.32. The trade was a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 139,583 shares of company stock valued at $13,515,814. 13.66% of the stock is currently owned by insiders.

Institutional Trading of Rubrik

Hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA increased its position in shares of Rubrik by 104.1% in the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company's stock worth $162,572,000 after acquiring an additional 1,696,342 shares in the last quarter. Amundi boosted its holdings in Rubrik by 449.5% in the first quarter. Amundi now owns 561,496 shares of the company's stock worth $27,496,000 after purchasing an additional 459,314 shares during the period. CI Investments Inc. acquired a new position in shares of Rubrik in the 1st quarter valued at about $19,815,000. Wellington Management Group LLP lifted its position in Rubrik by 48.8% in the 2nd quarter. Wellington Management Group LLP now owns 731,736 shares of the company's stock valued at $58,744,000 after purchasing an additional 240,062 shares during the last quarter. Finally, Congress Asset Management Co. boosted its position in Rubrik by 32.6% during the 3rd quarter. Congress Asset Management Co. now owns 715,550 shares of the company's stock worth $81,909,000 after acquiring an additional 175,866 shares during the period. Institutional investors own 49.54% of the company's stock.

About Rubrik

Rubrik, Inc is a cybersecurity and data-management company that provides organizations with tools to protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to help businesses maintain data availability, strengthen cyber resilience and recover operations following events such as ransomware attacks, system failures or other disruptions.

The company's Rubrik Security Cloud platform combines data backup, recovery, archival, monitoring and security capabilities.

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