Rubrik (NYSE:RBRK - Free Report) had its price objective raised by CIBC from $110.00 to $125.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperformer rating on the stock.
Several other research firms have also recently commented on RBRK. Robert W. Baird increased their price target on Rubrik from $95.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Wall Street Zen raised Rubrik from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wells Fargo & Company lifted their price target on Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Rosenblatt Securities lifted their target price on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. 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 company. Based on data from MarketBeat.com, Rubrik has a consensus rating of "Moderate Buy" and an average price target of $100.38.
Read Our Latest Report on Rubrik
Rubrik Stock Performance
Shares of NYSE:RBRK traded down $0.10 during trading on Monday, reaching $88.76. The stock had a trading volume of 2,147,501 shares, compared to its average volume of 2,226,971. Rubrik has a 1-year low of $28.34 and a 1-year high of $103.00. The business has a fifty day moving average price of $78.00 and a 200-day moving average price of $70.37. The stock has a market cap of $16.84 billion, a PE ratio of -31.36 and a beta of 0.87.
Rubrik (NYSE:RBRK - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same quarter last year, the company earned ($1.58) earnings per share. Rubrik's quarterly revenue was up 48.7% on a year-over-year basis. Sell-side analysts expect that Rubrik will post -7.66 earnings per share for the current year.
Insiders Place Their Bets
In other news, CTO Arvind Nithrakashyap sold 32,477 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $99.83, for a total transaction of $3,242,178.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the firm's stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 687,609 shares of company stock worth $52,962,668 over the last ninety days. Corporate insiders own 32.38% of the company's stock.
Hedge Funds Weigh In On Rubrik
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in shares of Rubrik in the fourth quarter valued at $28,000. PNC Financial Services Group Inc. purchased a new stake in Rubrik during the 1st quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in Rubrik during the 1st quarter worth about $31,000. Global Retirement Partners LLC raised its position in Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Comerica Bank boosted 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 buying an additional 395 shares during the period. Hedge funds and other institutional investors own 49.54% of the company's stock.
About Rubrik
(
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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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