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

Rubrik (NYSE:RBRK) had its price objective boosted by research analysts at Guggenheim from $48.00 to $52.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 18.72% from the company’s current price.

Several other brokerages have also issued reports on RBRK. Oppenheimer began coverage on Rubrik in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. BMO Capital Markets cut their price objective on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Wedbush lifted their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price target on shares of Rubrik in a research note on Tuesday, September 10th. Finally, CIBC lifted their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $45.65.

Rubrik Stock Down 0.1 %

NYSE:RBRK traded down $0.03 during mid-day trading on Tuesday, reaching $43.80. The company’s stock had a trading volume of 284,892 shares, compared to its average volume of 1,476,401. The stock has a fifty day moving average of $37.41 and a 200-day moving average of $34.57. Rubrik has a 1 year low of $28.34 and a 1 year high of $45.90.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to the consensus estimate of $195.58 million. As a group, research analysts anticipate that Rubrik will post -8.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 104,672 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the transaction, the executive now owns 462,545 shares in the company, valued at $14,486,909.40. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 454,512 shares of company stock worth $15,813,462.

Institutional Trading of Rubrik

Several large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in Rubrik during the 3rd quarter worth $25,000. KBC Group NV purchased a new position in shares of Rubrik in the third quarter worth about $72,000. Quent Capital LLC acquired a new position in Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC purchased a new stake in Rubrik during the 3rd quarter valued at about $208,000. Finally, Barclays PLC raised its holdings in Rubrik by 140.6% in the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after acquiring an additional 7,029 shares during the last quarter.

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.