Rosenblatt Securities Cuts Rubrik (NYSE:RBRK) Price Target to $95.00

Key Points

• Rosenblatt Securities cut its price target on Rubrik from $120 to $95 but maintained a "buy" rating, with the new target implying roughly a 65.6% upside; MarketBeat's consensus target is about $99.74 and the consensus rating is "Moderate Buy".
• Rubrik posted an earnings beat last quarter—EPS $0.10 vs. a -$0.16 estimate and revenue $350.17M (up 48.3% YoY)—even though analysts on average still forecast a negative full-year EPS (~-7.66).
• Insiders have been net sellers (261,378 shares worth $19.38M in the past 90 days, including the CFO), while institutional investors own about 49.5% of the company with large recent additions from Vanguard, Norges Bank and others.

Rubrik (NYSE:RBRK - Get Free Report) had its price target dropped by Rosenblatt Securities from $120.00 to $95.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' target price suggests a potential upside of 65.62% from the company's current price.

Several other brokerages have also commented on RBRK. Oppenheimer began coverage on Rubrik in a research note on Monday, November 17th. They issued a "market perform" rating on the stock. Roth Mkm restated a "buy" rating on shares of Rubrik in a research note on Friday, December 5th. DA Davidson started coverage on Rubrik in a report on Monday, February 23rd. They issued a "buy" rating and a $65.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Rubrik in a report on Monday, December 29th. Finally, Citigroup reaffirmed a "buy" rating on shares of Rubrik in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rubrik currently has a consensus rating of "Moderate Buy" and an average target price of $99.74.

Rubrik Trading Up 2.6%

Shares of RBRK stock opened at $57.36 on Monday. Rubrik has a twelve month low of $46.36 and a twelve month high of $103.00. The stock has a 50 day moving average of $61.25 and a 200 day moving average of $72.75. The stock has a market cap of $11.48 billion, a P/E ratio of -29.42 and a beta of 0.46.

Rubrik (NYSE:RBRK - Get Free Report) last posted its earnings results on Thursday, December 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.26. The firm had revenue of $350.17 million for the quarter, compared to analysts' expectations of $320.19 million. Rubrik's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) earnings per share. On average, research analysts predict 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 20,000 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $54.17, for a total value of $1,083,400.00. Following the sale, the chief financial officer directly owned 474,959 shares of the company's stock, valued at $25,728,529.03. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian K. Mccarthy sold 10,000 shares of the business's stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $70.88, for a total value of $708,800.00. Following the sale, the insider directly owned 330,772 shares in the company, valued at $23,445,119.36. The trade was a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 261,378 shares of company stock worth $19,381,131 in the last ninety days. 32.38% of the stock is owned by company insiders.

Institutional Trading of Rubrik

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Rubrik by 73.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,022,614 shares of the company's stock valued at $1,077,106,000 after purchasing an additional 5,077,513 shares during the last quarter. Norges Bank acquired a new stake in Rubrik during the 4th quarter worth $345,907,000. First Trust Advisors LP grew its holdings in shares of Rubrik by 42.8% during the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company's stock worth $540,259,000 after buying an additional 2,116,272 shares in the last quarter. Federated Hermes Inc. grew its stake in Rubrik by 101.8% during the 3rd quarter. Federated Hermes Inc. now owns 2,437,768 shares of the company's stock valued at $200,506,000 after acquiring an additional 1,229,476 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Rubrik in the third quarter valued at approximately $97,828,000. Institutional investors and hedge funds 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).

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