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

Rubrik (NYSE:RBRK) had its price target increased by Guggenheim from $48.00 to $52.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on RBRK. Oppenheimer assumed coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Robert W. Baird increased their price objective on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Rubrik in a report on Tuesday, September 10th. FBN Securities assumed coverage on Rubrik in a research note on Monday, September 30th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Piper Sandler started coverage on Rubrik in a report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective on the stock. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $46.18.

Rubrik Trading Up 9.0 %

RBRK opened at $49.23 on Tuesday. Rubrik has a 1-year low of $28.34 and a 1-year high of $49.73. The company has a 50 day simple moving average of $38.27 and a two-hundred day simple moving average of $34.82.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results 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 business had revenue of $204.95 million during the quarter, compared to analyst estimates of $195.58 million. On average, equities research analysts expect that Rubrik will post -8.04 EPS for the current year.

Insider Transactions at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the transaction, the chief financial officer now owns 423,060 shares in the company, valued at approximately $16,668,564. This trade represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This trade represents a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 454,512 shares of company stock worth $15,813,462.

Institutional Investors Weigh In On Rubrik

Hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik during the 3rd quarter worth $25,000. KBC Group NV purchased a new stake in shares of Rubrik during the third quarter valued at about $72,000. Quent Capital LLC bought a new stake in shares of Rubrik in the 3rd quarter valued at about $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the 3rd quarter worth approximately $208,000. Finally, Barclays PLC raised its stake in shares of Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock worth $386,000 after acquiring an additional 7,029 shares in the last quarter.

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.