Truist Financial Forecasts Strong Price Appreciation for Rubrik (NYSE:RBRK) Stock

Rubrik (NYSE:RBRK - Get Free Report) had its price objective lifted by research analysts at Truist Financial from $90.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 11.95% from the stock's previous close.

A number of other research firms have also recently weighed in on RBRK. Wall Street Zen cut shares of Rubrik from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets reiterated an "outperform" rating on shares of Rubrik in a research report on Friday. Cantor Fitzgerald raised their price target on Rubrik from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday. Mizuho cut shares of Rubrik from an "outperform" rating to a "neutral" rating and upped their price objective for the stock from $75.00 to $86.00 in a research report on Thursday, May 15th. Finally, Wells Fargo & Company upped their price target on shares of Rubrik from $80.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $92.94.

Rubrik Stock Down 0.3%

Shares of RBRK traded down $0.31 on Friday, hitting $98.26. The company's stock had a trading volume of 3,045,528 shares, compared to its average volume of 2,140,540. The firm has a market capitalization of $18.65 billion and a price-to-earnings ratio of -7.12. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $105.48. The firm's fifty day moving average price is $74.56 and its 200-day moving average price is $68.88.

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

Insider Activity at Rubrik

In other news, major shareholder Lightspeed Management Company, sold 13,213 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the sale, the insider now directly owns 21,221 shares of the company's stock, valued at approximately $1,336,498.58. This represents a 38.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 87,971 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 413,458 shares of the company's stock, valued at approximately $28,958,598.32. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 632,609 shares of company stock worth $47,450,968 over the last three months. Company insiders own 32.38% of the company's stock.

Institutional Investors Weigh In On Rubrik

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

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