Rubrik (NYSE:RBRK) Given New $77.00 Price Target at BMO Capital Markets

Rubrik (NYSE:RBRK) had its price target increased by BMO Capital Markets from $72.00 to $77.00 in a research note issued to investors on Friday, MarketBeat reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on RBRK. Cantor Fitzgerald lifted their target price on shares of Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. William Blair assumed coverage on Rubrik in a report on Friday, February 7th. They set a “market perform” rating on the stock. Piper Sandler lifted their price target on Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Guggenheim reiterated a “buy” rating and set a $76.00 price target on shares of Rubrik in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on Rubrik from $40.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $69.78.

Rubrik Stock Up 27.6 %

Shares of RBRK opened at $70.54 on Friday. Rubrik has a 52-week low of $28.34 and a 52-week high of $80.00. The firm’s fifty day moving average is $68.20 and its two-hundred day moving average is $53.27.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, March 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The business had revenue of $258.10 million for the quarter, compared to the consensus estimate of $233.13 million. During the same quarter in the previous year, the business posted ($1.59) earnings per share. The firm’s revenue was up 47.5% compared to the same quarter last year. As a group, analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.15, for a total transaction of $1,578,750.00. Following the completion of the transaction, the executive now directly owns 356,043 shares of the company’s stock, valued at approximately $22,484,115.45. The trade was a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 32,499 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $67.66, for a total value of $2,198,882.34. The disclosure for this sale can be found here. Insiders have sold 625,712 shares of company stock worth $41,583,311 over the last three months.

Hedge Funds Weigh In On Rubrik

A number of institutional investors and hedge funds have recently made changes to their positions in RBRK. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Rubrik during the third quarter worth about $20,774,000. KBC Group NV acquired a new position in shares of Rubrik during the third quarter worth about $72,000. Natixis Advisors LLC grew its position in shares of Rubrik by 302.5% during the third quarter. Natixis Advisors LLC now owns 53,271 shares of the company’s stock worth $1,713,000 after buying an additional 40,036 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Rubrik during the third quarter worth about $243,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rubrik by 134.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 325,420 shares of the company’s stock worth $10,462,000 after buying an additional 186,485 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

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.