Rubrik, Inc. (NYSE:RBRK) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts have given Rubrik, Inc. a consensus rating of "Moderate Buy," with 15 out of 18 analysts recommending to buy the stock and an average target price of $100.37.
• Rubrik recently reported a quarterly earnings of ($0.15) EPS, which exceeded analysts' expectations, alongside a significant revenue increase of 48.7% year-over-year.
• Recent insider activity includes the CFO selling 30,000 shares at an average price of $100.24, reducing their stake by 5.44% in the company.

Rubrik, Inc. (NYSE:RBRK - Get Free Report) has been given an average rating of "Moderate Buy" by the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $100.3750.

A number of brokerages have issued reports on RBRK. KeyCorp reiterated an "overweight" rating and issued a $113.00 price target (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Rosenblatt Securities increased their price target on Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. CIBC raised their price objective on Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. BMO Capital Markets restated an "outperform" rating and set a $110.00 price objective (up previously from $77.00) on shares of Rubrik in a research report on Friday, June 6th. Finally, Truist Financial raised their price objective on Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, June 6th.

Rubrik Stock Performance

Shares of NYSE RBRK traded down $3.53 during midday trading on Wednesday, hitting $84.55. 2,236,015 shares of the stock traded hands, compared to its average volume of 3,090,375. The firm has a 50-day moving average of $88.53 and a two-hundred day moving average of $77.58. The firm has a market capitalization of $16.36 billion, a P/E ratio of -29.88 and a beta of 0.45. Rubrik has a one year low of $29.18 and a one year high of $103.00.

Rubrik (NYSE:RBRK - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period in the prior year, the business posted ($1.58) earnings per share. Rubrik's revenue for the quarter was up 48.7% compared to the same quarter last year. Equities analysts forecast that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In related news, Director John Wendell Thompson sold 9,009 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $87.29, for a total value of $786,395.61. Following the transaction, the director directly owned 998 shares of the company's stock, valued at approximately $87,115.42. This trade represents a 90.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lightspeed Management Company, sold 16,984 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $89.47, for a total transaction of $1,519,558.48. Following the completion of the transaction, the insider directly owned 59,182 shares in the company, valued at $5,295,013.54. This represents a 22.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,080,047 shares of company stock worth $99,115,944. 32.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its holdings in Rubrik by 1,030.8% in the 2nd quarter. Allworth Financial LP now owns 294 shares of the company's stock valued at $26,000 after acquiring an additional 268 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in Rubrik in the 2nd quarter valued at about $27,000. Russell Investments Group Ltd. acquired a new stake in Rubrik in the 4th quarter valued at about $28,000. Beacon Capital Management LLC acquired a new stake in Rubrik in the 2nd quarter valued at about $29,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Rubrik in the 1st quarter valued at about $30,000. 49.54% of the stock is owned by hedge funds and other institutional investors.

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.