Rubrik (NYSE:RBRK) Price Target Raised to $52.00

Rubrik (NYSE:RBRK) had its price objective upped by Guggenheim from $48.00 to $52.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. CIBC lifted their price target on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Citigroup upped their target price on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Robert W. Baird lifted their price target on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer started coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets decreased their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $46.18.

Rubrik Stock Up 9.0 %

Rubrik stock opened at $49.23 on Tuesday. The firm’s fifty day moving average price is $38.27 and its 200-day moving average price is $34.82. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $49.73.

Rubrik (NYSE:RBRK) last announced its earnings results 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 for the quarter, compared to analyst estimates of $195.58 million. On average, sell-side analysts expect that Rubrik will post -8.04 earnings per share for the current year.

Insider Activity at Rubrik

In other news, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the transaction, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred on 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. Insiders sold a total of 454,512 shares of company stock valued at $15,813,462 in the last 90 days.

Institutional Trading of Rubrik

A number of large investors have recently made changes to their positions in RBRK. Brown Brothers Harriman & Co. purchased a new stake in Rubrik during the third quarter valued at $25,000. KBC Group NV bought a new position in shares of Rubrik in the 3rd quarter worth approximately $72,000. Quent Capital LLC purchased a new position in shares of Rubrik in the third quarter worth approximately $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik during the third quarter valued at approximately $208,000. Finally, Register Financial Advisors LLC purchased a new stake in Rubrik during the second quarter valued at approximately $227,000.

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.