Guggenheim Reaffirms "Buy" Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Guggenheim in a report released on Wednesday, MarketBeat reports. They presently have a $105.00 price target on the stock, up from their previous price target of $80.00. Guggenheim's target price indicates a potential upside of 9.98% from the company's previous close.

Several other brokerages have also weighed in on RBRK. Wedbush raised their price objective on shares of Rubrik from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. Robert W. Baird lowered their price objective on Rubrik from $83.00 to $76.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company increased their target price on Rubrik from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. BMO Capital Markets lifted their target price on Rubrik from $72.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. Finally, Roth Capital initiated coverage on Rubrik in a research report on Thursday, May 15th. They set a "buy" rating and a $97.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.69.

Rubrik Price Performance

RBRK traded up $0.09 on Wednesday, reaching $95.47. The company's stock had a trading volume of 4,589,500 shares, compared to its average volume of 2,096,140. Rubrik has a 1 year low of $28.34 and a 1 year high of $97.76. The business's 50 day moving average is $71.84 and its 200 day moving average is $67.37. The stock has a market cap of $18.12 billion and a price-to-earnings ratio of -6.93.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.22). The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $233.13 million. During the same quarter last year, the firm posted ($1.59) earnings per share. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. As a group, research analysts forecast that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 3,500 shares of Rubrik stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $94.86, for a total transaction of $332,010.00. Following the sale, the chief financial officer now owns 551,665 shares of the company's stock, valued at approximately $52,330,941.90. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $90.10, for a total value of $2,252,500.00. Following the completion of the sale, the executive now owns 504,584 shares in the company, valued at approximately $45,463,018.40. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 630,617 shares of company stock valued at $43,678,208 in the last ninety days. Company insiders own 32.38% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBRK. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in Rubrik in the first quarter worth approximately $30,000. Summit Securities Group LLC bought a new position in Rubrik during the 1st quarter valued at $31,000. Global Retirement Partners LLC increased its position in shares of Rubrik by 8,333.3% during 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, Comerica Bank increased its position in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after purchasing an additional 395 shares during the period. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Company Profile

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.