Rubrik (NYSE:RBRK) Price Target Raised to $70.00 at Barclays

Rubrik (NYSE:RBRK) had its target price upped by Barclays from $51.00 to $70.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on RBRK. Oppenheimer assumed coverage on shares of Rubrik in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. KeyCorp lifted their price objective on shares of Rubrik from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial lifted their price objective on shares of Rubrik from $50.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 price target (up from $42.00) on shares of Rubrik in a report on Friday. Finally, BMO Capital Markets lifted their price target on shares of Rubrik from $38.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and an average price target of $60.59.

Rubrik Stock Up 20.3 %

Rubrik stock opened at $64.54 on Friday. The company has a 50 day moving average price of $42.65 and a 200-day moving average price of $36.18. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $72.66.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. As a group, analysts predict that Rubrik will post -8.04 earnings per share for the current year.

Insider Activity at Rubrik

In related news, CFO Kiran Kumar Choudary sold 30,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $65.78, for a total transaction of $1,973,400.00. Following the completion of the transaction, the chief financial officer now directly owns 342,960 shares in the company, valued at $22,559,908.80. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the transaction, the executive now owns 312,545 shares of the company’s stock, valued at $20,118,521.65. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 574,912 shares of company stock worth $22,673,114 over the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC acquired a new position in shares of Rubrik in the second quarter worth about $47,523,000. Champlain Investment Partners LLC acquired a new position in shares of Rubrik in the third quarter worth about $44,418,000. Point72 Asset Management L.P. acquired a new position in shares of Rubrik in the third quarter worth about $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik in the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC raised its position in shares of Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock worth $37,378,000 after acquiring an additional 1,131,360 shares during the period.

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.