Rubrik (NYSE:RBRK) Price Target Raised to $108.00 at Guggenheim

Rubrik (NYSE:RBRK - Get Free Report) had its price objective increased by equities researchers at Guggenheim from $105.00 to $108.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective indicates a potential upside of 10.17% from the stock's previous close.

Several other research firms have also issued reports on RBRK. Truist Financial lifted their price target on shares of Rubrik from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush restated an "outperform" rating and issued a $120.00 price target (up previously from $80.00) on shares of Rubrik in a research report on Friday. Rosenblatt Securities lifted their price target on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday. William Blair started coverage on shares of Rubrik in a research report on Friday, February 7th. They issued a "market perform" rating on the stock. Finally, UBS Group restated a "buy" rating on shares of Rubrik in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.81.

Rubrik Stock Performance

Shares of Rubrik stock traded down $0.54 during trading on Friday, reaching $98.03. The company had a trading volume of 6,567,499 shares, compared to its average volume of 2,158,031. The company has a market cap of $18.60 billion, a price-to-earnings ratio of -34.64 and a beta of 0.87. The firm's fifty day moving average is $75.32 and its 200-day moving average is $69.25. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to analyst estimates of $260.39 million. Rubrik's revenue was up 48.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.58) EPS. On average, research analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the executive now directly owns 331,043 shares of the company's stock, valued at $23,173,010. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the completion of the sale, the chief technology officer now directly owns 186,795 shares of the company's stock, valued at $9,720,811.80. This represents a 14.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 632,609 shares of company stock worth $47,450,968 in the last quarter. Insiders own 32.38% of the company's stock.

Institutional Trading of Rubrik

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Rubrik in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Rubrik in the first quarter worth about $30,000. Summit Securities Group LLC bought a new position in Rubrik in the first quarter worth about $31,000. Global Retirement Partners LLC raised its stake in Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after buying an additional 500 shares in the last quarter. Finally, Comerica Bank raised its stake in Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after buying an additional 395 shares in the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

About Rubrik

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.