Rubrik (NYSE:RBRK) Price Target Raised to $75.00

Rubrik (NYSE:RBRK) had its price objective hoisted by KeyCorp from $57.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 39.85% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Oppenheimer initiated coverage on shares of Rubrik in a research note on Wednesday, November 13th. They issued a “market perform” rating on the stock. Barclays increased their price objective on Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Piper Sandler began coverage on Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, FBN Securities initiated coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and a consensus target price of $48.18.

Rubrik Price Performance

NYSE:RBRK opened at $53.63 on Friday. The firm has a 50-day moving average of $42.00 and a two-hundred day moving average of $35.98. Rubrik has a 1-year low of $28.34 and a 1-year high of $54.90.

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

Insider Buying and Selling at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The trade was a 63.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $3,278,327.04. Following the sale, the executive now owns 462,545 shares in the company, valued at approximately $14,486,909.40. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 518,112 shares of company stock valued at $18,997,746.

Hedge Funds Weigh In On Rubrik

Several institutional investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC acquired a new stake in shares of Rubrik in the second quarter valued at $47,523,000. Champlain Investment Partners LLC bought a new stake in Rubrik during the 3rd quarter worth about $44,418,000. Point72 Asset Management L.P. acquired a new stake in Rubrik in the 3rd quarter valued at about $42,247,000. PointState Capital LP bought a new position in shares of Rubrik in the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC lifted its position in shares of Rubrik by 3,620.4% during the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after purchasing an additional 1,131,360 shares in 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.