Piper Sandler Reaffirms Overweight Rating for Rubrik (NYSE:RBRK)

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $72.00 target price on the stock, up from their prior target price of $42.00. Piper Sandler’s price objective suggests a potential upside of 11.15% from the company’s current price.

Other research analysts also recently issued reports about the stock. Guggenheim boosted their target price on shares of Rubrik from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wedbush boosted their price objective on Rubrik from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Cantor Fitzgerald raised Rubrik to a “strong-buy” rating in a report on Wednesday, November 20th. Truist Financial lifted their price target on Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets upped their price objective on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $55.53.

Rubrik Stock Performance

Shares of Rubrik stock opened at $64.78 on Friday. The firm’s 50 day simple moving average is $42.00 and its two-hundred day simple moving average is $35.98. Rubrik has a 12-month low of $28.34 and a 12-month high of $64.78.

Rubrik (NYSE:RBRK) last announced 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 firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. Sell-side analysts anticipate that Rubrik will post -8.04 earnings per share for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive now owns 337,545 shares of the company’s stock, valued at $16,877,250. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 518,112 shares of company stock valued at $18,997,746 over the last quarter.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after purchasing an additional 7,029 shares during the period. Geode Capital Management LLC boosted its holdings in Rubrik by 133.3% in the 3rd quarter. Geode Capital Management LLC now owns 568,646 shares of the company’s stock valued at $18,290,000 after purchasing an additional 324,951 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Rubrik in the 3rd quarter valued at approximately $571,000. State Street Corp increased its holdings in shares of Rubrik by 368.9% during the 3rd quarter. State Street Corp now owns 421,096 shares of the company’s stock worth $13,538,000 after buying an additional 331,296 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Rubrik by 407.7% during the 3rd quarter. Stifel Financial Corp now owns 68,566 shares of the company’s stock valued at $2,204,000 after buying an additional 55,062 shares during the period.

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.