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

Rubrik (NYSE:RBRK) had its price target hoisted by equities researchers at Cantor Fitzgerald from $95.00 to $115.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 17.31% from the company’s current price.

RBRK has been the subject of a number of other research reports. Mizuho downgraded Rubrik from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $86.00 in a research note on Thursday, May 15th. Wedbush lifted their price target on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. KeyCorp upped their price objective on Rubrik from $98.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reduced their price objective on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.81.

Rubrik Price Performance

RBRK stock opened at $98.03 on Friday. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of -34.64 and a beta of 0.87. The business’s fifty day moving average price is $75.32 and its two-hundred day moving average price is $69.41. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $103.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.58) EPS. Research analysts expect that Rubrik will post -7.66 EPS for the current year.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 87,971 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $70.04, for a total transaction of $6,161,488.84. Following the completion of the transaction, the chief financial officer now directly owns 413,458 shares of the company’s stock, valued at approximately $28,958,598.32. This represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lightspeed Management Company, sold 13,213 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $62.98, for a total value of $832,154.74. Following the transaction, the insider now directly owns 21,221 shares of the company’s stock, valued at approximately $1,336,498.58. The trade was a 38.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 632,609 shares of company stock valued at $47,450,968 over the last 90 days. Company insiders own 32.38% of the company’s stock.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Rubrik during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new position in Rubrik during the first quarter valued at approximately $30,000. Global Retirement Partners LLC boosted its stake in Rubrik by 8,333.3% during the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. Summit Securities Group LLC bought a new position in Rubrik during the first quarter valued at approximately $31,000. Finally, Comerica Bank raised its position in Rubrik by 209.0% during 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 period. 49.54% of the stock is owned by institutional investors.

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.