Rubrik, Inc. (NYSE:RBRK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $100.38.

A number of equities research analysts recently weighed in on RBRK shares. Truist Financial raised their target price on shares of Rubrik from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Rosenblatt Securities raised their target price on shares of Rubrik from $82.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Piper Sandler lowered their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Mizuho downgraded shares of Rubrik from an "outperform" rating to a "neutral" rating and raised their target price for the company from $75.00 to $86.00 in a research note on Thursday, May 15th. Finally, Wedbush raised their target price on shares of Rubrik from $80.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th.

Rubrik Trading Up 5.1%

RBRK stock opened at $89.88 on Tuesday. The firm has a 50 day moving average of $82.31 and a 200-day moving average of $72.40. Rubrik has a 12 month low of $28.35 and a 12 month high of $103.00. The firm has a market capitalization of $17.39 billion, a P/E ratio of -31.76 and a beta of 0.86.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to the consensus estimate 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 business posted ($1.58) earnings per share. Sell-side analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 30,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $100.24, for a total transaction of $3,007,200.00. Following the transaction, the chief financial officer now directly owns 521,665 shares of the company's stock, valued at approximately $52,291,699.60. The trade was a 5.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 2,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.24, for a total transaction of $144,480.00. Following the transaction, the director now directly owns 153 shares in the company, valued at approximately $11,052.72. The trade was a 92.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,244,804 shares of company stock worth $107,800,803 in the last three months. 32.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Amundi increased its position in Rubrik by 0.7% during the 1st quarter. Amundi now owns 37,116 shares of the company's stock valued at $2,132,000 after purchasing an additional 262 shares during the period. NewEdge Advisors LLC increased its position in Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock valued at $76,000 after purchasing an additional 300 shares during the period. Comerica Bank increased its position in Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after purchasing an additional 395 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Rubrik in the 4th quarter worth about $28,000. Finally, Global Retirement Partners LLC grew its position in shares of 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 buying an additional 500 shares during the period. 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.

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