Rubrik (NYSE:RBRK) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Rubrik (NYSE:RBRK) released its earnings results on Thursday. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22), Zacks reports. The business had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $233.13 million. The firm’s revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.59) EPS.

Rubrik Price Performance

Shares of RBRK opened at $70.54 on Friday. Rubrik has a twelve month low of $28.34 and a twelve month high of $80.00. The firm has a fifty day simple moving average of $68.20 and a two-hundred day simple moving average of $53.27.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total value of $2,000,689.56. Following the completion of the transaction, the chief technology officer now directly owns 219,279 shares in the company, valued at $13,505,393.61. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kiran Kumar Choudary sold 3,973 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $72.34, for a total transaction of $287,406.82. Following the completion of the transaction, the chief financial officer now owns 345,374 shares of the company’s stock, valued at approximately $24,984,355.16. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,712 shares of company stock worth $41,583,311.

Analysts Set New Price Targets

RBRK has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Rubrik in a report on Friday. KeyCorp decreased their target price on shares of Rubrik from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Friday. Finally, BMO Capital Markets upped their target price on shares of Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $69.78.

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.