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

Rubrik (NYSE:RBRK) had its price objective lifted by Citigroup from $48.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

RBRK has been the subject of several other reports. Guggenheim upped their price target on Rubrik from $52.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their price objective on Rubrik from $51.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday. CIBC upped their price objective on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. BMO Capital Markets upped their price objective on Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Finally, FBN Securities began coverage on Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $60.59.

Rubrik Stock Performance

Rubrik stock opened at $64.54 on Friday. The business has a 50-day simple moving average of $42.65 and a two-hundred day simple moving average of $36.18. Rubrik has a 52-week low of $28.34 and a 52-week high of $72.66.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) 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. On average, equities research analysts expect that Rubrik will post -8.04 EPS for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 1,500 shares of Rubrik stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now owns 423,060 shares in the company, valued at $16,668,564. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of Rubrik stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 574,912 shares of company stock valued at $22,673,114.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in Rubrik during the 3rd quarter worth $25,000. KBC Group NV acquired a new position in shares of Rubrik during the 3rd quarter worth about $72,000. Quent Capital LLC acquired a new position in shares of Rubrik during the 3rd quarter worth about $192,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Rubrik during the 3rd quarter worth about $208,000. Finally, Sei Investments Co. acquired a new position in shares of Rubrik during the 2nd quarter worth about $235,000.

About Rubrik

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.