Rubrik (NYSE:RBRK) Price Target Raised to $125.00 at CIBC

Rubrik (NYSE:RBRK) had its price objective hoisted by CIBC from $110.00 to $125.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an outperformer rating on the stock.

A number of other equities research analysts have also recently commented on RBRK. Mizuho cut shares of Rubrik from an “outperform” rating to a “neutral” rating and upped their target price for the company from $75.00 to $86.00 in a report on Thursday, May 15th. Roth Capital boosted their target price on Rubrik from $97.00 to $107.00 and gave the company a “buy” rating in a report on Friday. Wedbush restated an “outperform” rating and set a $120.00 price objective (up previously from $80.00) on shares of Rubrik in a research report on Friday. Rosenblatt Securities lifted their target price on shares of Rubrik from $82.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler dropped their price target 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. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Rubrik Price Performance

Shares of NYSE:RBRK opened at $93.27 on Monday. The company’s fifty day moving average price is $75.93 and its 200 day moving average price is $69.85. Rubrik has a 12 month low of $28.34 and a 12 month high of $103.00. The firm has a market capitalization of $17.70 billion, a P/E ratio of -32.96 and a beta of 0.87.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. Rubrik’s revenue was up 48.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.58) earnings per share. On average, sell-side analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling

In other Rubrik news, CFO Kiran Kumar Choudary sold 87,971 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $28,958,598.32. This represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the transaction, the executive now directly owns 331,043 shares of the company’s stock, valued at approximately $23,173,010. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 687,609 shares of company stock valued at $52,962,668. 32.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Rubrik

Several hedge funds have recently bought and sold shares of RBRK. Voloridge Investment Management LLC purchased a new stake in shares of Rubrik in the fourth quarter valued at $85,331,000. Green Alpha Advisors LLC raised its stake in Rubrik by 53.4% in the 1st quarter. Green Alpha Advisors LLC now owns 8,114 shares of the company’s stock valued at $495,000 after purchasing an additional 2,824 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Rubrik by 2,899.7% in the 4th quarter. BNP Paribas Financial Markets now owns 313,765 shares of the company’s stock valued at $20,508,000 after purchasing an additional 303,305 shares in the last quarter. FMR LLC lifted its holdings in 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 purchasing an additional 2,065,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rubrik by 168.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 667,229 shares of the company’s stock worth $43,610,000 after purchasing an additional 418,457 shares during the last quarter. 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.