KeyCorp Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK - Get Free Report) had its price objective hoisted by KeyCorp from $98.00 to $113.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 14.04% from the company's previous close.

A number of other research firms have also weighed in on RBRK. Guggenheim reiterated a "buy" rating and issued a $105.00 target price (up previously from $80.00) on shares of Rubrik in a research note on Wednesday, May 28th. Wells Fargo & Company boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Mizuho cut shares of Rubrik from an "outperform" rating to a "neutral" rating and boosted their price target for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. Piper Sandler dropped their target price on Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, William Blair assumed coverage on shares of Rubrik in a research note on Friday, February 7th. They set a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Rubrik presently has an average rating of "Moderate Buy" and a consensus target price of $82.06.

Rubrik Trading Up 0.5%

Shares of Rubrik stock opened at $99.09 on Friday. Rubrik has a 12-month low of $28.34 and a 12-month high of $105.48. The company has a market cap of $18.81 billion and a price-to-earnings ratio of -7.06. The company's 50-day moving average price is $74.56 and its 200-day moving average price is $68.88.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.17. The company had revenue of $278.48 million for the quarter, compared to analysts' expectations of $260.39 million. Rubrik's quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.58) EPS. On average, sell-side analysts predict that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the completion of the sale, the chief technology officer now directly owns 186,795 shares in the company, valued at $9,720,811.80. This represents a 14.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total transaction of $124,060.00. Following the completion of the transaction, the chief financial officer now owns 614,798 shares in the company, valued at $38,135,919.94. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 632,609 shares of company stock worth $47,450,968. 32.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in Rubrik during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Rubrik in the 1st quarter valued at approximately $30,000. Summit Securities Group LLC acquired a new stake in Rubrik during the 1st quarter valued at $31,000. Global Retirement Partners LLC raised its stake in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after acquiring an additional 395 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.