Rubrik (NYSE:RBRK) Coverage Initiated at Roth Capital

Roth Capital started coverage on shares of Rubrik (NYSE:RBRK) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $97.00 price target on the stock. Roth Capital’s target price suggests a potential upside of 13.59% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. KeyCorp decreased their price objective on shares of Rubrik from $82.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. William Blair initiated coverage on Rubrik in a research report on Friday, February 7th. They set a “market perform” rating for the company. BMO Capital Markets boosted their price objective on shares of Rubrik from $72.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Piper Sandler cut their target price on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Wedbush lifted their price target on Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $71.05.

Rubrik Stock Performance

NYSE RBRK opened at $85.40 on Thursday. Rubrik has a 52-week low of $28.34 and a 52-week high of $87.50. The company has a fifty day moving average of $67.07 and a 200-day moving average of $63.99. The company has a market capitalization of $16.21 billion and a P/E ratio of -6.20.

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

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 87,971 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the sale, the chief financial officer now owns 413,458 shares in the company, valued at $28,958,598.32. The trade was a 17.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $77.31, for a total value of $193,275.00. Following the transaction, the director now directly owns 153 shares of the company’s stock, valued at approximately $11,828.43. The trade was a 94.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 594,617 shares of company stock worth $40,386,273 in the last three months.

Institutional Investors Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBRK. Vanguard Group Inc. raised its stake in shares of Rubrik by 9.7% in the first quarter. Vanguard Group Inc. now owns 6,945,101 shares of the company’s stock valued at $423,512,000 after acquiring an additional 616,917 shares during the period. Norges Bank bought a new position in shares of Rubrik in the 4th quarter worth $277,395,000. FMR LLC boosted its holdings in shares of Rubrik by 172.6% in the 4th quarter. FMR LLC now owns 3,261,925 shares of the company’s stock valued at $213,199,000 after buying an additional 2,065,444 shares in the last quarter. First Trust Advisors LP boosted its stake in Rubrik by 26.6% in the fourth quarter. First Trust Advisors LP now owns 3,156,035 shares of the company’s stock valued at $206,278,000 after acquiring an additional 662,914 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Rubrik by 27.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,184 shares of the company’s stock worth $129,359,000 after buying an additional 427,149 shares during the last quarter. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

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.