Rubrik (NYSE:RBRK) Given New $120.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Rubrik’s price target to $120 from $95 and maintained an “overweight” rating, implying approximately 20% upside from the reported share price.
• Analyst sentiment remains broadly positive, with 29 Buy ratings and one Sell rating; the consensus rating is “Moderate Buy” with an average price target of $100.32.
• Rubrik’s latest quarter exceeded expectations, reporting $0.16 in EPS versus a $0.03 loss estimate and $387.1 million in revenue, up 39% year over year. Insiders have also sold 317,682 shares worth about $26.4 million over the past 90 days.

Rubrik (NYSE:RBRK - Get Free Report) had its target price hoisted by analysts at Cantor Fitzgerald from $95.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 20.27% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Rubrik in a research report on Friday, June 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Rubrik in a research report on Wednesday, June 24th. UBS Group reaffirmed a "buy" rating and set a $106.00 price target on shares of Rubrik in a report on Wednesday. Scotiabank reiterated an "outperform" rating on shares of Rubrik in a research report on Friday, June 5th. Finally, Stephens reissued an "overweight" rating and issued a $90.00 price objective on shares of Rubrik in a research note on Monday, June 15th. Twenty-nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.32.

Rubrik Price Performance

Rubrik stock opened at $99.78 on Thursday. The stock's fifty day moving average price is $81.01 and its two-hundred day moving average price is $65.29. Rubrik has a one year low of $42.25 and a one year high of $106.50. The firm has a market cap of $20.54 billion, a PE ratio of -68.81 and a beta of 1.17.

Rubrik (NYSE:RBRK - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.19. The company had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Rubrik's revenue was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Sell-side analysts expect that Rubrik will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In other news, Director John Wendell Thompson sold 11,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $82.65, for a total value of $909,150.00. Following the completion of the transaction, the director owned 8,362 shares of the company's stock, valued at approximately $691,119.30. This represents a 56.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 199,447 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $84.28, for a total transaction of $16,809,393.16. Following the completion of the sale, the chief technology officer owned 314,048 shares in the company, valued at approximately $26,467,965.44. The trade was a 38.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 317,682 shares of company stock valued at $26,402,176. 13.66% of the stock is currently owned by insiders.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Comerica Bank lifted its stake in shares of Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company's stock valued at $36,000 after acquiring an additional 395 shares during the last quarter. Royal Bank of Canada increased its holdings in Rubrik by 231.3% in the 1st quarter. Royal Bank of Canada now owns 29,320 shares of the company's stock worth $1,789,000 after purchasing an additional 20,471 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rubrik by 31.6% during the first quarter. NewEdge Advisors LLC now owns 1,250 shares of the company's stock valued at $76,000 after purchasing an additional 300 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Rubrik by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company's stock valued at $57,343,000 after purchasing an additional 236,181 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Rubrik by 204.1% during the first quarter. Rhumbline Advisers now owns 2,980 shares of the company's stock worth $182,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 49.54% of the company's stock.

Rubrik Company Profile

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source