Robert W. Baird Has Lowered Expectations for Rubrik (NYSE:RBRK) Stock Price

Key Points

• Robert W. Baird cut its price target on Rubrik from $125 to $110 but maintained an "outperform" rating—Baird's $110 target implies about a 96.7% upside, while the MarketBeat consensus is a "Moderate Buy" with an average target of $101.05.
• Rubrik beat December-quarter estimates (EPS $0.10 vs. -$0.16 expected; revenue $350.17M vs. $320.19M), with revenue up 48.3% year-over-year, yet the stock trades around $55.91 and carries a negative P/E.
• Insider selling has been notable—261,378 shares (~$19.4M) sold in the last 90 days—while large institutional investors (Vanguard, Norges Bank, etc.) hold sizable positions and institutions own about 49.54% of the company.

Rubrik (NYSE:RBRK - Get Free Report) had its target price reduced by Robert W. Baird from $125.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 96.74% from the company's previous close.

A number of other research analysts have also weighed in on the company. Stephens began coverage on Rubrik in a report on Monday, December 29th. They issued an "overweight" rating and a $105.00 price objective on the stock. Cantor Fitzgerald cut their price target on shares of Rubrik from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Rubrik in a research report on Friday, December 5th. BMO Capital Markets decreased their price objective on shares of Rubrik from $110.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, December 5th. Finally, Truist Financial cut their price objective on shares of Rubrik from $110.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of "Moderate Buy" and an average target price of $101.05.

Rubrik Trading Up 1.9%

NYSE:RBRK opened at $55.91 on Friday. The company has a market capitalization of $11.19 billion, a P/E ratio of -28.67 and a beta of 0.45. Rubrik has a 12 month low of $46.36 and a 12 month high of $103.00. The firm has a fifty day simple moving average of $61.68 and a 200-day simple moving average of $73.11.

Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, December 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.26. The firm had revenue of $350.17 million during the quarter, compared to analysts' expectations of $320.19 million. The business's revenue was up 48.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. Equities analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insider Activity

In other Rubrik news, Director John Wendell Thompson sold 11,000 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $73.84, for a total value of $812,240.00. Following the completion of the transaction, the director owned 2,702 shares in the company, valued at approximately $199,515.68. This represents a 80.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 31,450 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $76.19, for a total transaction of $2,396,175.50. Following the sale, the chief technology officer directly owned 342,703 shares in the company, valued at approximately $26,110,541.57. The trade was a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 261,378 shares of company stock worth $19,381,131. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently bought and sold shares of RBRK. Vanguard Group Inc. raised its stake in shares of Rubrik by 73.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,022,614 shares of the company's stock worth $1,077,106,000 after buying an additional 5,077,513 shares during the period. Norges Bank purchased a new stake in Rubrik in the 4th quarter worth $345,907,000. First Trust Advisors LP increased its holdings in Rubrik by 42.8% in the 4th quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock worth $540,259,000 after acquiring an additional 2,116,272 shares in the last quarter. Acadian Asset Management LLC raised its position in Rubrik by 388.7% during the second quarter. Acadian Asset Management LLC now owns 1,555,252 shares of the company's stock worth $139,309,000 after acquiring an additional 1,237,014 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Rubrik by 101.8% during the third quarter. Federated Hermes Inc. now owns 2,437,768 shares of the company's stock valued at $200,506,000 after purchasing an additional 1,229,476 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company's stock.

About Rubrik

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company's platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.