Rubrik (NYSE:RBRK) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Rubrik (NYSE:RBRK) had its price target lifted by equities researchers at Cantor Fitzgerald from $85.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 11.25% from the company’s previous close.

A number of other research firms also recently commented on RBRK. UBS Group reiterated a “buy” rating on shares of Rubrik in a report on Tuesday, April 29th. Wedbush boosted their price target on shares of Rubrik from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 14th. KeyCorp decreased their price objective on Rubrik from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Guggenheim lifted their price target on shares of Rubrik from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Piper Sandler dropped their price objective on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Three 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 company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $71.05.

Rubrik Stock Down 0.1%

Rubrik stock opened at $85.40 on Thursday. The stock has a market capitalization of $16.21 billion and a price-to-earnings ratio of -6.20. Rubrik has a 12-month low of $28.34 and a 12-month high of $87.50. The stock has a 50-day simple moving average of $67.07 and a 200 day simple moving average of $63.99.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $233.13 million. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the company posted ($1.59) earnings per share. As a group, sell-side analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $52.04, for a total value of $1,690,467.36. Following the sale, the chief technology officer now owns 186,795 shares in the company, valued at $9,720,811.80. This represents a 14.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $80.01, for a total value of $2,000,250.00. Following the sale, the executive now owns 529,584 shares of the company’s stock, valued at $42,372,015.84. This trade represents a 4.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 594,617 shares of company stock valued at $40,386,273 over the last 90 days.

Institutional Trading of Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in RBRK. Amundi boosted its stake in shares of Rubrik by 0.7% in the 1st quarter. Amundi now owns 37,116 shares of the company’s stock worth $2,132,000 after buying an additional 262 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Rubrik by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,450 shares of the company’s stock worth $683,000 after purchasing an additional 300 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after purchasing an additional 300 shares during the last quarter. Comerica Bank lifted its stake in Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after purchasing an additional 395 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Rubrik during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.