Robert W. Baird Raises Rubrik (NYSE:RBRK) Price Target to $110.00

Rubrik (NYSE:RBRK - Free Report) had its target price raised by Robert W. Baird from $95.00 to $110.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on RBRK. Guggenheim reissued a "buy" rating and issued a $105.00 price objective (up from $80.00) on shares of Rubrik in a research report on Wednesday, May 28th. Wells Fargo & Company upped their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Mizuho cut shares of Rubrik from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $75.00 to $86.00 in a research report on Thursday, May 15th. Wedbush reissued an "outperform" rating and issued a $120.00 price objective (up from $80.00) on shares of Rubrik in a research report on Friday. Finally, Rosenblatt Securities increased their price target on shares of Rubrik from $82.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $95.81.

Rubrik Price Performance

NYSE RBRK traded down $0.54 during trading hours on Friday, hitting $98.03. The company had a trading volume of 6,567,499 shares, compared to its average volume of 2,158,031. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $103.00. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of -34.64 and a beta of 0.87. The firm's 50 day moving average is $75.32 and its 200 day moving average is $69.25.

Rubrik (NYSE:RBRK - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share 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 analysts' expectations of $260.39 million. The business's quarterly revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.58) earnings per share. On average, equities analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other Rubrik news, CTO Arvind Nithrakashyap sold 32,484 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36. Following the transaction, the chief technology officer now owns 186,795 shares of the company's stock, valued at $9,720,811.80. This trade represents a 14.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 2,000 shares of the firm'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 completion of the transaction, the director now directly owns 153 shares in the company, valued at $15,296.94. This represents a 92.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 632,609 shares of company stock valued at $47,450,968 over the last quarter. Insiders own 32.38% of the company's stock.

Hedge Funds Weigh In On Rubrik

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Rubrik by 9.7% in the first quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company's stock worth $423,512,000 after acquiring an additional 616,917 shares during the last quarter. Norges Bank acquired a new stake in shares of Rubrik in the fourth quarter valued at approximately $277,395,000. FMR LLC increased its stake in shares of Rubrik by 172.6% in the fourth quarter. FMR LLC now owns 3,261,925 shares of the company's stock valued at $213,199,000 after purchasing an additional 2,065,444 shares during the period. First Trust Advisors LP increased its stake in shares of Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company's stock valued at $206,278,000 after purchasing an additional 662,914 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Rubrik by 27.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company's stock valued at $129,359,000 after purchasing an additional 427,149 shares during the period. 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.