Rubrik (NYSE:RBRK) Receives "Buy" Rating from Guggenheim

Rubrik (NYSE:RBRK - Get Free Report)'s stock had its "buy" rating reissued by research 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 prior price target of $80.00. Guggenheim's price objective indicates a potential upside of 9.98% from the stock's current price.

A number of other research firms have also issued reports on RBRK. Mizuho lowered shares of Rubrik from an "outperform" rating to a "neutral" rating and raised their price target for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. KeyCorp lowered their price target on shares of Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company lifted their price objective on Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Finally, Cantor Fitzgerald upped their target price on Rubrik from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.69.

Rubrik Trading Up 0.1%

Shares of RBRK stock traded up $0.09 during trading hours on Wednesday, reaching $95.47. 4,589,500 shares of the company's stock were exchanged, compared to its average volume of 2,099,778. Rubrik has a 1 year low of $28.34 and a 1 year high of $97.76. The stock has a market cap of $18.12 billion and a PE ratio of -6.93. The stock's fifty day moving average price is $71.84 and its two-hundred day moving average price is $67.53.

Rubrik (NYSE:RBRK - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $233.13 million. During the same quarter last year, the firm earned ($1.59) EPS. The company's quarterly revenue was up 47.5% compared to the same quarter last year. On average, equities analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kiran Kumar Choudary sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $94.86, for a total transaction of $332,010.00. Following the completion of the sale, the chief financial officer now directly owns 551,665 shares in the company, valued at approximately $52,330,941.90. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the completion of the transaction, the insider now owns 21,221 shares in the company, valued at $1,336,498.58. This represents a 38.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 630,617 shares of company stock worth $43,678,208. 32.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of Rubrik by 204.1% in the 1st quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock valued at $182,000 after acquiring an additional 2,000 shares during the period. Acadian Asset Management LLC raised its position in Rubrik by 4,007.4% in the first quarter. Acadian Asset Management LLC now owns 318,238 shares of the company's stock valued at $19,393,000 after purchasing an additional 310,490 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Rubrik by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 715,953 shares of the company's stock valued at $43,659,000 after purchasing an additional 48,724 shares during the period. Voleon Capital Management LP lifted its stake in Rubrik by 50.7% during the first quarter. Voleon Capital Management LP now owns 186,205 shares of the company's stock worth $11,355,000 after purchasing an additional 62,627 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Rubrik by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company's stock worth $57,343,000 after buying an additional 236,181 shares during the period. Institutional investors and hedge funds own 49.54% of the company's stock.

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.