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

Key Points

• Rubrik, Inc. has received a consensus recommendation of "Moderate Buy" from 18 analysts, with 15 analysts giving a buy recommendation and 3 advising holds.
• The company recently reported a revenue of $278.48 million for the quarter, surpassing the consensus estimate by over $18 million and showing a 48.7% increase year-over-year.
• Several analysts have raised their target prices for Rubrik, with Wells Fargo setting a new target of $125.00, reflecting a positive outlook on the company's performance.

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

RBRK has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. CIBC increased their price objective on shares of Rubrik from $110.00 to $125.00 and gave the company an "outperformer" rating in a research report on Monday, June 9th. Cantor Fitzgerald increased their price objective on shares of Rubrik from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Robert W. Baird increased their price objective on shares of Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Finally, KeyCorp restated an "overweight" rating and issued a $113.00 target price (up previously from $98.00) on shares of Rubrik in a report on Friday, June 6th.

Rubrik Stock Performance

RBRK opened at $90.85 on Friday. Rubrik has a fifty-two week low of $29.18 and a fifty-two week high of $103.00. The company has a fifty day moving average of $87.76 and a 200 day moving average of $78.96. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of -32.10 and a beta of 0.43.

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 the consensus estimate of ($0.32) by $0.17. The business had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same quarter last year, the business earned ($1.58) EPS. Rubrik's revenue for the quarter was up 48.7% compared to the same quarter last year. On average, equities research analysts forecast that Rubrik will post -7.66 earnings per share for the current year.

Insider Activity

In other news, Director John Wendell Thompson sold 9,009 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $87.83, for a total value of $791,260.47. Following the completion of the sale, the director owned 998 shares in the company, valued at approximately $87,654.34. This trade represents a 90.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Brian K. Mccarthy sold 12,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $87.84, for a total transaction of $1,098,000.00. Following the completion of the sale, the executive owned 406,052 shares of the company's stock, valued at $35,667,607.68. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 914,086 shares of company stock worth $82,614,503 over the last 90 days. Insiders own 32.38% of the company's stock.

Institutional Investors Weigh In On Rubrik

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Rubrik by 1,030.8% in the 2nd quarter. Allworth Financial LP now owns 294 shares of the company's stock worth $26,000 after acquiring an additional 268 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in Rubrik in the 2nd quarter valued at about $27,000. Beacon Capital Management LLC purchased a new stake in Rubrik in the 2nd quarter valued at about $29,000. PNC Financial Services Group Inc. purchased a new stake in Rubrik in the 1st quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new stake in Rubrik in the 1st quarter valued at about $31,000. Institutional investors own 49.54% of the company's stock.

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.

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.