Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Roth Capital Analyst Says

Rubrik (NYSE:RBRK - Get Free Report) had its price target raised by equities research analysts at Roth Capital from $97.00 to $107.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Roth Capital's price objective indicates a potential upside of 8.02% from the company's previous close.

A number of other research analysts also recently issued reports on RBRK. William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a "market perform" rating for the company. KeyCorp increased their price objective on Rubrik from $98.00 to $113.00 and gave the company an "overweight" rating in a report on Friday. Piper Sandler reduced their price objective on shares of Rubrik from $87.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on Rubrik from $80.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Wall Street Zen cut Rubrik from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $95.81.

Rubrik Stock Performance

Shares of RBRK traded up $0.49 during mid-day trading on Friday, hitting $99.06. 4,953,075 shares of the company were exchanged, compared to its average volume of 2,148,214. The company has a 50 day moving average of $74.56 and a 200-day moving average of $68.88. Rubrik has a 1-year low of $28.34 and a 1-year high of $105.48. The stock has a market cap of $18.80 billion and a price-to-earnings ratio of -7.17.

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

Insider Activity

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.04, for a total transaction of $1,690,467.36. Following the completion of the transaction, the chief technology officer now directly owns 186,795 shares in the company, valued at $9,720,811.80. This represents a 14.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the completion of the sale, the chief financial officer now directly owns 413,458 shares in the company, valued at approximately $28,958,598.32. This trade represents a 17.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 632,609 shares of company stock worth $47,450,968. 32.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Robertson Stephens Wealth Management LLC acquired a new stake in shares of Rubrik in the 4th quarter worth approximately $450,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rubrik in the 4th quarter worth approximately $858,000. Robocap Asset Management Ltd purchased a new position in Rubrik during the 4th quarter worth approximately $2,486,000. Entropy Technologies LP acquired a new stake in Rubrik during the 4th quarter valued at $2,018,000. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Rubrik by 1.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 268,033 shares of the company's stock valued at $17,519,000 after purchasing an additional 3,688 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

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.

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