Rubrik, Inc. (NYSE:RBRK) Given Average Recommendation of “Buy” by Brokerages

Rubrik, Inc. (NYSE:RBRK) has earned an average recommendation of “Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $70.00.

A number of brokerages recently issued reports on RBRK. Wedbush lifted their target price on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Citigroup raised their price target on Rubrik from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Barclays raised their price target on Rubrik from $51.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho raised their price target on Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Rubrik in a research note on Friday, March 14th.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,800 shares of Rubrik stock in a transaction on Friday, December 27th. The stock was sold at an average price of $68.03, for a total value of $122,454.00. Following the completion of the transaction, the chief financial officer now directly owns 343,774 shares of the company’s stock, valued at $23,386,945.22. The trade was a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of Rubrik stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $67.60, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 153 shares of the company’s stock, valued at $10,342.80. This represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 621,254 shares of company stock worth $41,195,389 in the last ninety days.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Rubrik by 6.9% in the 3rd quarter. Janus Henderson Group PLC now owns 360,653 shares of the company’s stock valued at $11,595,000 after acquiring an additional 23,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Rubrik during the 3rd quarter worth $323,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Rubrik by 24.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 248,772 shares of the company’s stock worth $7,998,000 after buying an additional 49,372 shares in the last quarter. Renaissance Capital LLC raised its holdings in shares of Rubrik by 21.2% during the 4th quarter. Renaissance Capital LLC now owns 72,775 shares of the company’s stock worth $4,757,000 after buying an additional 12,714 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Rubrik during the 3rd quarter worth $336,000. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Price Performance

NYSE RBRK opened at $68.15 on Friday. The stock’s 50-day moving average is $68.82 and its 200-day moving average is $54.90. Rubrik has a one year low of $28.34 and a one year high of $80.00. The firm has a market cap of $12.62 billion and a P/E ratio of -4.95.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. During the same quarter in the previous year, the company posted ($1.59) earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. Equities analysts anticipate that Rubrik will post -7.66 EPS for the current year.

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.