Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Rubrik (NYSE:RBRK - Get Free Report) had its price objective increased by analysts at Rosenblatt Securities from $82.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Rosenblatt Securities' target price suggests a potential upside of 12.21% from the stock's previous close.

Several other equities analysts have also weighed in on RBRK. Wall Street Zen lowered shares of Rubrik from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Mizuho cut Rubrik from an "outperform" rating to a "neutral" rating and boosted their price objective for the stock from $75.00 to $86.00 in a research note on Thursday, May 15th. UBS Group reaffirmed a "buy" rating on shares of Rubrik in a research report on Tuesday, April 29th. KeyCorp dropped their target price on Rubrik from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird reduced their price target on Rubrik from $83.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.81.

Rubrik Stock Performance

Rubrik stock traded down $0.54 during midday trading on Friday, reaching $98.03. The stock had a trading volume of 6,567,499 shares, compared to its average volume of 2,158,031. The stock's 50-day simple moving average is $75.32 and its 200 day simple moving average is $69.25. Rubrik has a twelve month low of $28.34 and a twelve month high of $103.00. The stock has a market capitalization of $18.60 billion, a PE ratio of -34.64 and a beta of 0.87.

Rubrik (NYSE:RBRK - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same period in the prior year, the firm earned ($1.58) earnings per share. The business's revenue for the quarter was up 48.7% on a year-over-year basis. Equities analysts predict that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Lightspeed Management Company, sold 13,213 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $62.98, for a total transaction of $832,154.74. Following the completion of the transaction, the insider now owns 21,221 shares in the company, valued at $1,336,498.58. The trade was a 38.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $99.98, for a total transaction of $199,960.00. Following the transaction, the director now owns 153 shares of the company's stock, valued at $15,296.94. This represents a 92.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 632,609 shares of company stock valued at $47,450,968 over the last 90 days. 32.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rubrik

Several large investors have recently made changes to their positions in the company. Amundi grew its holdings in Rubrik by 0.7% in the 1st quarter. Amundi now owns 37,116 shares of the company's stock worth $2,132,000 after buying an additional 262 shares in the last quarter. NewEdge Advisors LLC boosted its position in Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock worth $76,000 after acquiring an additional 300 shares during the period. Comerica Bank grew its stake in shares of Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company's stock worth $36,000 after purchasing an additional 395 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Rubrik in the fourth quarter worth $28,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 49.54% of the company's stock.

About Rubrik

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.